As of December 1, the Reserve Fund totaled 3.661 trillion rubles ($132.63 billion), while the National Prosperity Fund stood at 2.109 trillion rubles ($76.38 billion).
However, due to steady weakening of the ruble and unfavorable exchange rates, the Reserve Fund actually decreased by almost $2 billion in dollar equivalent in November.
The national development bank VEB held 365 billion rubles ($13.3 billion) of the National Prosperity Fund's resources as of December 1, 2008, the ministry said.
The Finance Ministry divided the former Stabilization Fund into the Reserve Fund, designed to cushion the federal budget against a plunge in oil prices, and the National Prosperity Fund, designed to help Russia carry out pension reforms, on February 1 this year.
Add to blog
You may place this material on your blog by copying the link.
The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.