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Russia's Stabilization Fund saw month-on-month growth of 103.6 billion rubles
Russia's Stabilization Fund saw month-on-month growth of 103.6 billion rubles ($3.7 billion) or 6.6%, to reach 1,562.7 billion rubles ($55.7 billion) as of March 1, the country's finance ministry said Monday. As of January 1, 2006, the fund, established to accumulate surplus revenue from high world oil prices, stood at 1,237 billion rubles ($44.15 billion), putting growth since the beginning of the year at 26%. Deputy Prime Minister Alexander Zhukov, speaking Sunday at the fifth session of the Russian Economic and Financial Forum in Switzerland, said the government expected the fund to exceed $70 billion at the start of 2007 and $107 billion at the start of 2008.
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