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Sovereign Wealth Funds Briefing - Categorized | Market

Why Putin’s Raid on Wealth Fund Won’t Cure What Ails Russia

Posted on 11 July 2014

President Vladimir Putin’s government is blowing a hole in Russia’s finances by unsealing one of its rainy-day funds, all for a growth spurt that will fizzle out, according to the Finance Ministry’s debt chief.
By tapping into the $88 billion stockpile to finance infrastructure, Russia is eroding the defenses that helped it weather a slump five years ago, Konstantin Vyshkovsky said. The tradeoff is that Russia will be at risk of “running on empty” after a “sharp and very brief acceleration,” he said………………………………………..Full Article: Source


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