Russian officials will have to revise the spending priorities of one of Russia’s two “rainy day” funds, daily newspaper Vedomosti, as officials scramble to find ways to fight a deepening financial crisis.
Citing sources in Russia’s financial and economic sectors, Vedomosti said officials needed to find ways of funding its “anti-crisis programme”, which Russian ministers have said will cost 1.375 trillion roubles (USD 21 billion).
Some 550 billion roubles (USD 89.6 billion) would now come from the National Wealth Fund, Vedomosti quoted an official as saying.
The Finance Ministry could not immediately comment on the report.
The government had hoped to use the fund to finance infrastructure projects.
“We will give up those projects which have been approved for financing from the National Wealth Fund. We will be left with only those where private investors are ready to increase their share,” a source described as a high-ranking official by Vedomosti was quoted as saying.
Source: zd-partner.com
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