Russia’s Stabilization Fund to Exceed 1 Trln Rbls / News / News agency Inforos
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Russia’s Stabilization Fund to Exceed 1 Trln Rbls

Deputy Prime Minister Alexander Zhukov forecasts

By the end of 2005 Russia’s stabilization fund assets may exceed one trillion Rubles, Russian Deputy Prime Minister Alexander Zhukov said on Tuesday, March 22. He was speaking at a meeting of the Executive Board of the Russian Union of Industrialists and Entrepreneurs.

According to A. Zhukov, as of March 1, 2005, the stabilization fund amounted to 707.5 billion Rubles. Over February the fund had risen by 60.3 billion Rubles.

At the beginning of March the Finance Minister, Alexei Kudrin, stated that his Ministry had proposed raising the cut-off sum for the Stabilization Fund from $20 per barrel to $23.
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