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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Performance

Russia Reserve Fund halves during 2009 recession

Posted on 12 January 2010

From Forexyard.com: Russia’s Reserve Fund declined by 2.2 trillion roubles ($74.98 billion) in 2009, as the government ploughed cash into the budget to help the country out of its first recession in a decade and compensate falling tax revenues.

The Reserve Fund, amassed during years of oil-fuelled economic boom and destined to cushion the economy in harder times, stood at 1.83 trillion roubles as of Jan. 1, 2010, down from 4.03 trillion roubles a year earlier, data from the Finance Ministry showed on Monday……………………………………Full Article: Source


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