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Russia to draw on NWF in 2017 if doesn't reduce budget deficit - finance minister
November 3, 2015 / 12:03 PM / 2 years ago

Russia to draw on NWF in 2017 if doesn't reduce budget deficit - finance minister

MOSCOW, Nov 3 (Reuters) - Russian Finance Minister Anton Siluanov said on Tuesday that Russia would have to draw on money from the National Wealth Fund in 2017 if it did not cut the budget deficit.

Russia’s Reserve Fund, another of the country’s sovereign funds, is normally used to finance the budget deficit. It is expected to be depleted fast if global oil prices remain low. (Reporting by Darya Korsunakaya; Writing by Jack Stubbs; Editing by Alexander Winning)

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