Reserve Fund to end 2013 up 207 bln rubles due to exchange rate variance - Siluanov
GORKI. Oct 7 (Interfax) - Russia's Reserve Fund will end this year increased by 207 billion rubles due to exchange rate differences, and new transfers to the Fund are not planned for this year, Finance Minister Anton Siluanov told the press after a meeting conducted by Prime Minister Dmitry Medvedev on 2013-budget amendments.
"Considering that we are not getting non-oil and gas revenues in the planned volume, privatization [revenues], and, perhaps, we will be very accurately borrowing from the market, then we are not planning any kinds of transfers to the Reserve Fund this year. The Reserve Fund will be replenished with 207 billion rubles from exchange rate revaluations," Siluanov said. The earlier plan was to transfer 337 billion rubles to the Fund this year.
Siluanov did not rule out that in the event of a favorable state of affairs in 2013 there could be some funds transferred to the Reserve Fund. "If there is a more favorable situation than we expect, there will be some kind of transfer," he said.
