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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Reserve Currencies

Reserve Fund to support budget while Central Bank looks at Rouble support

Posted on 05 February 2009

From Russiatoday.com: Russia’s Finance Ministry says the nation’s Reserve Fund will cover any budget shortfalls in the next three years. That claim will be put to the test later this year, with the budget likely to face a $125 Billion deficit.

Russia’s stash of oil money saved for hard times will be in demand sooner than many expected. The Finance Ministry is going to break into the country’s reserve fund this year to cover the budget deficit according to Pyotr Kazekavich from the Finance Ministry State Assets Department….. Full Article: Source


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