The Reserve Fund of Russia is close to exhaustion

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The Reserve Fund of Russia is close to exhaustion

Сообщение HainanWel.com(e)! » 09 июн 2016, 12:56

Reserve fund for May decreased by 13.4% - up to 2.551 trillion rubles.
http://www.kommersant.ru/doc/3002148

E. Albats- Correctly I understand that a reserve fund it expires in early 2017. The question depends on the FNB, the law will change in the fall or not. Just Vyugin I gave an interview to «The New Times» magazine, and he even talks about it. Do I understand that Potbelly virtually expires in early 2017.
E. Gurvich- If oil prices do not rise suddenly to previous heights, yes. The reserve fund at the beginning of next year will end.
http://echo.msk.ru/programs/albac/1778558-echo/

The funds in the Reserve Fund could end in the next year, it is believed the economists surveyed by RBC ... 14 out of 32 economists and analysts surveyed by RBC believe that the Reserve Fund will end in 2017. At the beginning of 2016 it was 3.6 trillion rubles., By June 1, has only 2.6 trillion rubles.
http://www.rbc.ru/finances/07/06/2016/5 ... m=newsfeed

As already noted, the so-called "Exhaustion of the Reserve Fund" does not represent a serious economic problem. Reserve fund - this is only part of the international reserves of the country (along with the National Welfare Fund, and other reserves, do not belong to the Russian Federation or to the NWF). The exact distribution of all foreign reserves between their individual parts (accounts, funds) is the result of subjective decisions of bureaucratic sovereign essential to involved in the Ministry of Finance and Central Bank officials, but by and large unimportant either for citizens or for professional economic community. Moreover, the reserve fund - this is only a relatively small part of Russia's international reserves (on June 1, 2016 - less than 10% of their total). Even if the Reserve Fund will be divided into parts to be fully used (exhausted), closed, merged with the National Welfare Fund, pour in the other funds, again included in all international reserves, no special economic sense (any crisis or disaster nor great victory) this will not happen.
http://aillarionov.livejournal.com/930762.html

The indicator, which actually has a significant meaning for understanding the degree of stability of the financial system - is the total volume of international reserves, as well as its dynamics. Russia's international reserves in the past 13 months increased by 38.5 mlrd.dol. and on May 27, 2016 amounted to 389 mlrd.dol. In case of increase of the budget deficit to 5% of GDP and its funding solely from international reserves (without further replenishment) they will last for about 7 years.

Since May 1, 2015 June 1, 2016 the basic elements of Russian gold and currency reserves of the monetary authorities have changed as follows:
- The volume of the Reserve Fund decreased by 37.8 mlrd.dol .;
- The volume of the National Welfare Fund decreased by 3.3 mlrd.dol .;
- The amount of monetary gold increased by 9.6 mlrd.dol .;
- Volume of foreign exchange reserves, do not include the Russian Federation and the National Welfare Fund, increased by 63.2 mlrd.dol .;
- The volume of international reserves increased by 31.7 mlrd.dol.

It's hard to shake the feeling that the campaign "The reserve fund is close to exhaustion" is conducted in order to shift public attention nanesuschestvuyuschuyu "problem" from the real challenges for our country's economic, legal and political nature: the catastrophic decline in revenue citizens, the volume of consumer purchases, the standard of living in the Russia's current recession; from the total destruction of the rule of law in our country; Kremlin from the unprecedented increase in military spending, spending on security services and propaganda machine; from the growing confrontation with the outside world, a risk of further military conflicts.
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