Cabinet may drain one wealth fund, tap another, officials say Finance Ministry proposal calls for greater domestic borrowing Russia won’t spare one of its two sovereign wealth funds and plans to unseal the other as the government navigates three more years of budget deficits. An annual limit on foreign borrowing will stay at $3 billion under the Finance Ministry’s proposals for drafting a 2017-2019 budget program, according to three officials familiar with the plans, who asked to remain unidentified because the discussions aren’t public. As it drains the reserves, net debt sales at home will more than quadruple next year to 1.29 trillion rubles ($20 billion), one of the officials said. Under the proposal, the government will fully deplete the $38 billion Reserve Fund next year, according to one of the officials. Another 783 billion rubles will be taken from the National Wellbeing Fund, originally created to cover long-term […]