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Siluanov: SWF by the end of the year will decrease to 7 trillion rubles

Siluanov: SWF by the end of the year will decrease to 7 trillion rubles
Photo by: kremlin.ru

About seven trillion rubles will remain in the National Welfare Fund of Russia (NWF) by the end of this year. This resource, according to Finance Minister Anton Siluanov, will last until 2024.

As stated by the head of the Ministry of Finance on the air of the program "Moscow. Kremlin. Putin "In 2020, it is planned to spend two trillion rubles from the fund. This amount is based on current oil prices - $ 20 per barrel. Moreover, this year the federal budget will receive less than one trillion rubles of non-oil and gas revenues.

Money from the NWF will be used for support measures that need to be provided during the crisis caused by the coronavirus pandemic, residents, businesses, and regions. The volume of the National Welfare Fund of Russia as of April 1 was 12 trillion 855,75 billion rubles - 11,3% of GDP.

In March, Siluanov reported that the federal budget in 2020 will be scarce. According to him, the situation in the economy is not developing in the best way, because of which there is a deviation from previously formed macroeconomic forecasts. At the same time, the spread of coronavirus has become a more serious risk factor for the Russian economy than the fall in world oil prices.

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