Support The Moscow Times!

Russia Spends 900Bln Rubles From Reserve Fund in Jan-Aug Says Finance Minister

Maxim Stulov / Vedomosti

Russia used in the first eight months of the year 900 billion rubles ($13.30 billion) from its Reserve Fund, one of its sovereign wealth funds, to finance federal budget expenditures, Finance Minister Anton Siluanov said Wednesday.

Siluanov, speaking at a government meeting, said also that the Finance Ministry estimated the budget deficit this year at just below 3 percent of gross domestic product.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more