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Sovereign Wealth Funds Briefing - Categorized | Investment, Reserve Currencies

Oil funds will cover shortfalls for 3 years

Posted on 05 February 2009

From Neftegaz.ru: Faced with the prospect that Russia’s proverbial rainy day could run into months and years, the Finance Ministry said Tuesday that its accumulated oil wealth would be adequate to cover potential budget deficits through 2011.

The combined value of the Reserve Fund and the National Welfare Fund, still referred to collectively as the stabilization fund, reached $222 billion as of Feb. 1, Pyotr Kazakevich, deputy head of the ministry’s department for international relations, state debt and financial assets, said at a news conference….. Full Article: Source


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