20 Sep 2011 16:03

Reserve Fund 2.409 trln rubles, Welfare Fund 2.66 trln rubles seen in 2012 - source

MOSCOW. Sept 20 (Interfax) - Russia's sovereign Reserve Fund could increase to 2.409 trillion rubles in 2012, 3.021 trillion rubles in 2013 and 4.184 trillion rubles in 2014, a government source told reporters.

The National Welfare Fund will grow to 2.66 trillion rubles in 2012, 2.669 trillion rubles in 2013 and 2.799 trillion rubles in 2014, the source said.

A Reserve Fund of 1.791 trillion rubles is forecast for the end of 2011. "It'll grow more than 1 trillion rubles in the space of a year," the source said, adding that oil and gas revenue was expected to drive this growth.

The source said the Welfare Fund was expected to be 2.604 trillion rubles at the end of 2011.