Russia's Stabilization Fund will receive 1.55 trillion rubles from 2007's budget

Saturday, August 15, 2020

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Russia's Stabilization Fund will receive 1.55 trillion rubles ($57.3 bln) from 2007's budget, according to a report on a draft budget approved Friday at a government commission session. In line with the forecast, the fund, set up in 2004 to save petrodollars for the future when oil prices fall, but also being used to pay Russia's foreign debts, will total 4.07 trillion rubles ($150.4 bln) in late 2007. The fund stood at 1.93 trillion rubles (about $71.4 billion) as of May 24. In late April, the government decided to make the fund money work by investing it into major currencies to be deposited in the Russian Central Bank and in foreign bonds. Experts say the investment options could be expanded in the future, to include shares in foreign private corporations.

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