Do not eat our last one

The reserve fund can be completely exhausted by 2017. According to RIA Novosti, this is stated in the response of the head of the Ministry of Finance Anton Siluanov to a request from the State Duma deputies from the Communist Party of the Communist Party Sergey Obukhov and Valery Rashkin.

"In 2015, for the indicated purposes, the reserve fund funds were used in the amount of 2.6 trillion rubles. Upon maintaining the pace of use of this source of financing the federal budget, the Reserve Fund may be completely exhausted by 2017," the document says.

According to Siluanov, the use of a reserve fund for repayment of public debt in current conditions is inappropriate. The minister recalled that such an opportunity was provided for by the Budget Code and was implemented in 2005-2007 with a significant federal budget surplus.

Now the budget deficit for 2016 is predicted at 2.4 trillion rubles, so the reserve fund funds are going to finance budget expenditures, including the fulfillment of social obligations, Siluanov noted.

The Minister recalled that sovereign funds and state borrowings are the main sources of financing the budget deficit. "Preservation of funds is the key to wider possibilities for attracting the Russian Federation of borrowed resources on favorable conditions in the future, therefore, with a relatively calm situation in the economy and in financial markets, it is advisable to refrain from spending funds," the answer says.

The fact that the reserve fund can be “drunk” before the end of 2016, Siluanov stated in mid -January. Such a prospect, the official noted, is inevitable, "if we do not take other measures."

The expenditure of reserves, according to Siluanov, is inevitable, since the price of oil fell significantly lower than the value based on which the budget is overflower. "Therefore, last year, and in this we will use our reserves - a pillow of safety - which were accumulated," the official said.

Siluanov continued to preserve some of the reserves, and the privatization of large packages of state companies will allow. “This is not so much a fiscal effect, although it is very important for the budget, how much the effect of the fact that the state gives a signal that the share of the state will decrease,” the official explained. “We believe that companies will be better controlled in this case.”