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Russia's National Wealth Fund seen at around 12.5 trillion roubles by end-2020: TASS cites finance minister

Published 10/25/2020, 08:21 AM
Updated 10/25/2020, 08:25 AM
© Reuters. Russian Finance Minister Siluanov delivers a speech during a session of the lower house of parliament in Moscow

MOSCOW (Reuters) - Russia's Finance Minister Anton Siluanov said on Sunday that the size of the National Wealth Fund will stand at around 12.5 trillion roubles ($164.26 billion) by the end of this year, the TASS news agency cited him as saying.

© Reuters. Russian Finance Minister Siluanov delivers a speech during a session of the lower house of parliament in Moscow

The government does not expect to spend more from the fund than planned to restore the Russian economy, and will only use the funds when oil prices are low, he was cited as saying.

Latest comments

Will Russia be SUSTAINABLE after the World Oil Clock reaches 0 ??
Do not worry about Russia. Oil either stays in 40-60 if Trump wins, or goes over 100 if Biden wins.
Dictators have some advantages comparing with democracies and these advantages grow substantially comparing to modern, late-stage democracies.
Power grip is stronger thats where advantage comes from. All stems from power, but power is fragile too, if rigid, which is dictatorsips tendency. They deal with it now that they keep some freedoms for a time and then do clampdown just to integrate these qualities on controlled level. We used to have what was called normalisation, in 70s in czechoslovakia. In some way even democracies have these tendencies, especially where democracy is already weakened. Democracy is a state od individual mind, which is opposite to opressive regime, which grows to schisophreny towards autority and self censorship...which is why meldowns and normalisations has to go in cycle...
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