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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Crude price growth may more than double Reserve Fund – Putin

Posted on 23 February 2011

Vladimir PutinFrom Itar-Tass: An increase of world crude prices may more than double the Reserve Fund by the end of this year, but the government cannot spend more than planned because of the inflation hazard, Prime Minister Vladimir Putin said at a conference on Russia’s socioeconomic development forecast for the period until 2030.
“We must realize that these [additional revenues of the Reserve Fund] are a temporary phenomenon. We cannot inflate our expenditures. We must be as conservative as we were in the previous years,” Putin said………………………………………..Full Article: Source

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