04.03.2015 - Russian Wealth Fund Falls Most Since 2010 as Deficit Widens
Russia’s Reserve Fund dropped the most in more than four years last month as the government unsealed one of the country’s two sovereign wealth funds to cover a widening budget deficit. The holdings shrank $8 billion to $77.1 billion, the lowest since December 2012, as the Finance Ministry used its maximum yearly allowance of 500 billion rubles ($8 billion) for budget financing, according to a Tuesday statement by the ministry in Moscow. The fund disposed of securities equal to $3.6 billion, 3.1 billion euros ($3.5 billion) and 510 million pounds ($769 million)..............................................Full Article: Source
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