May 5, 2016 / 11:20 AM / 4 years ago

Russian FinMin spends over $5 bln from Reserve Fund in April to cover deficit

MOSCOW, May 5 (Reuters) - Russia’s Finance Ministry resumed depletion of its Reserve Fund in April, spending over $5 billion to finance the budget deficit, the ministry said on Thursday.

The ministry said the Reserve Fund stood at $44.96 billion on May 1 compared to $50.60 billion a month earlier. It said it spent $2.6 billion, 2.3 billion euros ($2.63 billion) and 0.4 billion pounds ($578.08 million) from the fund in April.

In roubles the Reserve Fund was worth 2.892 trillion at the beginning of this month.

The Finance Ministry had not depleted the Reserve Fund over January-March.

Russia’s government is hoping to keep the budget deficit within 3 percent of gross domestic product in 2016. ($1 = 0.8754 euros) ($1 = 0.6919 pounds) (Reporting by Alexander Winning and Elena Fabrichnaya; Editing by Dmitry Solovyov)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below