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Russia may start building up Reserve Fund in second-half of 2017 - Finance Minister

Reuters

MOSCOW (Reuters) - Russia may start building up its Reserve Fund in the second half of 2017, Finance Minister Anton Siluanov said on Saturday.

He added that if oil prices average $50 per barrel and rouble rate remains at current levels, the budget could get additional 1 trillion roubles (£13.5 billion) in oil and gas revenues, resulting in a budget deficit of around 2 percent of gross domestic product in 2017.

(Reporting by Darya Korsunskaya and Polina Nikolskaya; writing by Katya Golubkova; Editing by Toby Chopra)