Rus News Journal

Following the results of November Stabfond can exceed 500 mlrd rbl.

Following the results of November volume of Stabilization fund of Russia can exceed 500 mlrd rbl., Tatyana Golikova has informed journalists the deputy minister of the finance. As she said, for November, 1st 2004. The volume of means of Stabilization fund has made 462 mlrd rbl.
T.Golikova has noticed that the exact data about the size Stabfonda for December, 1st 2004. Will be known in the third decade of month. According to the deputy minister, a gain of means of Stabfonda for November 2004. It is expected in the same size, as well as last month, that is an order 58 mlrd
Meanwhile the head of the Ministry of economic development and the industry Herman Gref draws rbl. that means of Stabfonda should be invested in infrastructural projects.
stabilisation fund it is possible and it is necessary to use, - the minister has underlined, acting today at State Duma session, and has noticed that the size Stabfonda should not be excessive. According to G.Gref, means of Stabilization fund should go on investment projects for which, in particular, the state answers infrastructural projects and projects of private state partnership.
since 2007., the minister has noticed, the question on use of means of Stabfonda will be considered anew taking into account practice 2006., namely the question on volume of the fund, and also on the size of means which can go on the investment will be anew considered.
we will remind, Stabfond of the Russian Federation has started to be formed since January 2004. In it the incomes of the budget received at the price for oil above 20 dollars/ barr arrive. According to the offers of the Ministry of Finance co-ordinated with the key ministries and directed to government, with 2006. It is supposed to rise limiting value of the price of oil, at which excess superincomes from the high oil prices go to Stabilization fund, about present 20 dollars/ barr. To 21 - 21,5 dollars/ barr. Thus fund means are offered to be used exclusively on repayment, including preschedule, the state external debt and not to suppose to use it on not percentage expenses. For investment projects of means will be allocated from the federal budget, the fund will not be spent for these purposes. As a part of the federal budget it is offered to allocate means at a rate of not less 60 mlrd rbl. annually for financing of investment projects. The given sum approximately corresponds to the incomes received from increase of the base price for oil on 1 dollars/ barr. And economy on percentage payments in case of preschedule repayment of a public debt.