The period of the spending of the sovereign funds of Russia has ended, said.

© RIA Novosti / Alexei Nikolskiye in fotomancer of economic development of Russia Maxim Oreshkin. Archive photoThe period of the spending of the sovereign funds of Russia has ended, said.© RIA Novosti / Alexei Nikolskiye the image Bank

The period of the spending of the sovereign funds of Russia has ended, the country begins to actively accumulate reserves, told journalists the Minister of economic development of Russia Maxim Oreshkin.

«It is important to note that the budget leaves us in a favourable position, we begin to actively accumulate funds in sovereign wealth funds. Period expenses period expenditure of sovereign funds in Russia has ended,» said Oreshkin.

In the January review of «the economy» the Ministry of economic development reported that by the end of 2018, the budget surplus of the Russian Federation may reach 1% of GDP and the national welfare Fund (NWF) will increase by approximately $ 50 billion.

«Of course, we talked about oil prices, which were at the time of issue of the report, then they were below. Now if Brent is already trading around 70 dollars per barrel, then he was traded if I’m not mistaken, in the area of $ 65, around those levels we talked», he explained.

Oreshkin added that more accurate calculations, including the budget, the Ministry will present in the spring.

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