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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Russian Wealth Fund Has This Year’s Biggest Drop as Buffers Wilt

Posted on 07 September 2016

One of Russia’s two sovereign wealth funds had its biggest drop of the year in August, underlining the urgency of bringing the deficit under control as the budget gap remains on track for the widest since 2010.
The Reserve Fund, which peaked at $142.6 billion in 2008, fell to $32.2 billion last month, a decrease of 16 percent from July, as the government converted foreign currency into rubles to cover the deficit, the Finance Ministry said on Tuesday. The government’s other stockpile, the National Wellbeing fund, was at $72.7 billion, compared with $72.2 billion a month earlier………………………………………..Full Article: Source


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