Spending from the fund for the year will stand at 1.5 trillion rubles, the minister said Finance Minister Anton Siluanov.

The reserve fund will be fully exhausted in 2017, the Russian Finance Minister Anton Siluanov told reporters on December 26, 2017. Spending from the Reserve Fund will stand at 1.5 trillion rubles, while expenditures from the National Welfare Fund will total about 660 billion rubles.

Siluanov said that according to the Ministry’s estimates, as of January 1, 2018 the National Welfare Fund volume will be 3.7 trillion rubles, or just over four percent of the GDP. The liquid assets held in the National Welfare Fund will be 2.3 trillion rubles. Starting next year, Russian law provides for the merger of the National Welfare Fund and the Reserve Fund.

In line with Ministry of Finance data, the Reserve Fund in November 2017 increased by almost two percent to 994.64 billion rubles and the National Welfare Fund decreased 2.8 percent to 3.9 trillion rubles.