The Treasury told about the procurement of foreign currency for budget

© RIA Novosti / Natalia to Seliverstova in fotobanka the Federal Treasury in its building in Moscow. Archival photoThe Treasury told about the procurement of foreign currency for budget© RIA Novosti / Natalia to Seliverstova the image Bank

The Federal Treasury of the Russian Federation intends in 2017 to buy for current needs budget currency at 2-3 billion dollars, by purchasing monthly 200-300 million dollars, told reporters the head of the Federal Treasury of Russia Roman Artyukhin.

«We have a cash plan, it is due to the volume of currency transactions. As for the volume, then a month somewhere in the 200-300 million dollars. Approximately 2-3 billion for the whole year», — he told, answering a question on the volume of purchases of foreign currency for the needs of budget for the current year.

Earlier Artyukhin said that in March this year the Treasury gained for budget needs about $ 500 million. The Agency is currently not possible to enter the market with such operations directly, the currency is purchased for the Treasury at the Central Bank. The impact on the exchange rate, these operations do not have, because the Central Bank does not «zerkall» them on the market, besides the volume of transactions is insignificant for the market.

Artyukhin also said that the Treasury remains committed to start in 2018 direct purchases of currency without the participation of the Central Bank. According to artyukhina, it comes as purchases of foreign currency for the current needs of the budget and the operations for replenishment of the Reserve Fund. He stressed that it is necessary to adopt a number of amendments to the legislation, and the operations themselves should be predictable and transparent.

«We have prepared a package of amendments to the laws. Not all our amendments discussed, because it will require major changes. Including law on insider dealing and obtaining the new status. We are discussing these amendments together with the Finance Ministry and Central Bank,» he said. The Treasury, according to him, plans to prepare and submit these amendments to the state Duma in the autumn session.

In addition, the new procedure will require amendments to the law on budget, because the Treasury would have to pay for the use of infrastructure. «The volume (fee — ed) is small, but they should be. This Commission fees for transactions», — said Evgeny Artyukhin.

The operations on purchase of currency, which the Finance Ministry is conducting by the Central Bank, free to budget.

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