"We estimate that about 40 billion rubles [$1.6 billion] will be spent, and the remainder will be invested," Anton Siluanov said.
During 2007, the government will contribute 240 billion rubles ($9.7 billion) to the state fund's charter capital, he said.
The investments will be in sovereign bonds of Russia and other countries of the Organization for Economic Cooperation and Development, and in Russian corporate debt.
However, the official said there were currently no plans to further increase state investment in the corporation's charter capital. The 2007 contribution consists of "one-off payments, using Yukos funds," he said, adding that a decision had been taken previously to invest part of the bankrupt oil company's debt payments in housing and utility reform.
Yukos, once Russia's largest oil company, was declared bankrupt on August 1, 2006, after three years of litigation with tax authorities over arrears. Its founder, Mikhail Khodorkovsky, is serving an eight-year prison sentence in Siberia for fraud and tax evasion.
Siluanov said that almost all Yukos's tax arrears, estimated at 585 billion rubles ($24 billion), had been repaid to the federal budget. Of the total sum, 10 billion rubles ($404.5 million) has already been invested in housing and utility services, in addition to the sum contributed this year to the fund's fund charter capital.
The deputy minister also said an additional 19 billion rubles ($769 million) in budget funds could be allocated this year to pay off debts of the Russian North Caucasus republic of Chechnya, devastated by two military campaigns.
"We have fixed the sum as a compromise. We have agreed to co-finance the republic's debt incurred from the implementation of reconstruction programs," said Anton Siluanov.
