The Russian budget will be balanced in 2012 without the need for the Reserve Fund if oil prices don't fall below $93 per barrel, Acting Finance Minister Anton Siluanov told the parliament, ITAR-TASS reports.
All extra income would contribute to the reserves. If oil prices drop under the figure, the budget may be compensated using the Reserve Fund or optimization of expenses. The Reserve Fund will have 1.673 trillion rubles in 2011 and will be increased by 512 billion in 2012.
The fund had 4 trillion rubles before the recession in 2008, but such a sum will be achieved no sooner than 2014, the minister concluded.
