Russia will increase its rainy day Reserve Fund by a half, or 900 billion rubles ($29.3 billion), to reach a total of RUB2.8 trillion–slightly more than expected thanks to increased revenue from oil and gas, the finance ministry said on its website Monday.
The Fund should help even out any fiscal consequences of a potential drop in oil prices to $60-$70 per barrel–currently at almost $95 per barrel in Europe–said Julia Tsepliaeva, head of Market Economics Russia and CIS at BNP Paribas, in a research note………………………………………..Full Article: Source