March 3, 2015
IN RUSSIA IT'S RAINY EVERY DAY:
Russia's rainy day fund drops 10 pct in dollar terms in Feb as state tries to support budget (Associated Press March 3, 2015)
The Russian government's rainy-day fund has shrunk by almost 10 percent in dollar terms in February after the state sought to fill a hole in its budget, where revenues have suffered due to low oil prices.The Reserve Fund is used to support Russian public finances in time of low oil and gas prices and is held in dollars, euros and British pounds. It fell to $77.05 billion from $85.09 billion in January, the finance ministry said Tuesday.
Posted by Orrin Judd at March 3, 2015 3:06 PM
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