Putin has forbidden to spend money

Putin has forbidden to spend money from the National Welfare Fund. Where else will take?

Russian President Vladimir Putin has temporarily put an end to the issue of an increase in spending from the National Wealth Fund. He said that more than increase the costs of the National Welfare Fund can not, however, allowed the reallocation of resources in the existing framework.

"Of the FNB it is possible, but without an increase. If someone believes that the funds that are provided from the National Welfare Fund, you must first send to other purposes, in particular, to refocus on the goal of the territories of priority development, please. Only once I can say that we will be able to increase not now costs from the National Welfare Fund", - Putin said at a meeting on the development of the Far East in Yakutsk. He also noted that with the means of SWF must be handled carefully, and at first effectively distribute funds already scheduled.

Under current rules, 40% of National Welfare Fund may be invested in infrastructure projects, 10% - in the Russian Direct Investment Fund projects, 10% - in Rosatom projects. In particular, the funds allocated for the recapitalization of the largest banks in recent months, such as VTB, "Rosselkhozbank"VEB. Also at the expense of the National Welfare Fund financed projects to expand the Trans-Siberian and Baikal-Amur Railway, construction of the Central Ring Road, as well as project Kyzyl-Kuragino on the Elimination Project "the digital divide" and a project to improve the efficiency of electricity consumption.

Thus, the question of expanding the use of the fund is temporarily closed borders, but if they introduce new Western sanctions, it is clear that this issue is still there in the meetings of the economic, as in the country to find other sources "long money" quite difficult.

If the EU would support his words real sanctions, the funding situation is even more complicated with time, and therefore can be continued talk about further use of NWF.

This is not surprising, since the support of large companies, which were cut off from the external debt market can be a major challenge, as their importance to the economy is hard to overestimate.

At the same time, projects oriented to the East, and other priority areas, may be the most immediate relevance.

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