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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Russian economy struggles, while budget deficit soars

Posted on 10 September 2010

From Ibtimes.com: A new paradigm so far in 2010 is the emerging markets economies performing better than their developed counterparts. In 2010, its deficit is estimated at 5 percent of GDP. To cover the deficits, Russia will tap into its Stabilization Fund, which was set up in 2004 to collect excess tax revenues from oil.
The fund currently has $450 billion, said Leon Aron, a scholar at the American Enterprise Institute. However, “nobody knows what will happen once this money runs out,” he warned……………………………………….Full Article: Source


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