Russia is expected to report a budget deficit of around three trillion roubles this year, which will be the country's first budget deficit in ten years.

According to Reuters, Russia's oil wealth funds dropped in value by $2.2 billion over the last month, falling to approximately $176.4 billion.

The country's finance ministry revealed this week that its Reserve Fund is worth 2.71 trillion roubles at the moment, down from 2.81 trillion roubles at the beginning of August.

Expected to run out by the end of next year, the Reserve Fund has had 108 billion roubles transferred into the federal budget, bringing the total value of transfers so far to 1.72 trillion roubles.

The news provider reports that Russia's National Wealth Fund, originally allocated to longer-term projects, is now likely to be used to plug a deficit in the country's state pension fund.

Sergei Ignatyev, the head of the Russian Central Bank who was recently reappointed for a third term, claimed last month that a free float of the rouble within the next two years would be the Bank’s "main goal" while the economy recovers.