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Stabilization Fund Added Trillion Rubles Past Year
The Stabilization Fund of Russia grew past year by over 1.109 trillion rubles to 2.347 trillion rubles on aggregate, representatives of the RF Finance Ministry announced Wednesday.
In Russia, the Stabilization Fund accumulates additional revenues generated from severance tax and duties on crude export. In addition, the aggregate amount stepped up on investment yield of 22.990 billion rubles transferred on expiration of the accounting period for placing the Fund’s money.
Past August, the Stabilization Fund appropriated some money for advance payment of Russia’s debt to the Paris Club, which amounted to 616.769 billion rubles, spokesmen of Finance Ministry reminded. At the same time, the Fund got back around 12.053 billion rubles, having saved the amount on difference in exchange rate.
www.kommersant.com
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Photo: Yury Martiyanov