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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Oil Prices Could Deplete Russia’s Sovereign Funds by the End of 2016

Posted on 30 October 2015

Russia’s Ministry of Finance released a draft budget for 2016, which relies heavily on the country’s sovereign fund to bridge its growing deficit gap. According to Russia’s Finance Minister Anton Siluanov, the country’s sovereign fund will no longer be able to serve as the main source to finance the budget deficit following 2016, reports TASS.
“Our reserves volume [in 2015] will decrease by approximately 2.6 trillion rubles ($40.85 billion) – more than half. This means that 2016 is the last year when we are able to spend our reserves that way. After that we will not have such resources,” he said………………………………………..Full Article: Source


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