Russian Government to Increase Reserve Fund by $24.7bn

The Reserve Fund of the Russian government will grow by 1.8 trillion rubles ($24.7 bln) according to the Cabinet resolution signed by Prime Minister Mikhail Mishustin, TASS reported.

The resolution was posted on the website of legal information on Saturday.

The Russian Finance Ministry is ordered “to introduce in due course amendments into figures of the consolidated spending report of the federal budget for 2020, providing for the increase of the amount of the Reserve Fund of the Russian Federation Government by 1,800,000,000,000 rubles,” the resolution says.

On April 15, the Russian Prime Minister tasked to provide for the increase in the government’s reserve fund by 1.02 bln rubles ($14 mln) in 2020 at the expense of budget allocations unclaimed in other areas.