22.01.2013 - Russia Reserve Fund to be Increased by 50pct to $90 bln
Russia will increase its rainy day Reserve Fund by a half, or 900 billion rubles ($29.3 billion), to reach a total of RUB2.8 trillion--slightly more than expected thanks to increased revenue from oil and gas, the finance ministry said on its website Monday. The Fund should help even out any fiscal consequences of a potential drop in oil prices to $60-$70 per barrel--currently at almost $95 per barrel in Europe--said Julia Tsepliaeva, head of Market Economics Russia and CIS at BNP Paribas, in a research note...............................................Full Article: Source
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