World Economy

Russia Reserve Depletion

Russia Reserve DepletionRussia Reserve Depletion

Russia’s Reserve Fund could be completely depleted in the two-year time if the current negative tendencies persist in the year 2015, the head of the Russian Audit Chamber, Tatiana Golikova says.

“If the money from the Reserve fund is used up amid possible risks of plummeting oil prices and impossibility to loan under the sanctions, I think we will leave a hole in the fund in a two-years’ time,” Itar-tass quoted Golikova talking to TV Tsentr channel. At the same time she admitted that the estimates are hypothetical as the government plans to increase revenues.