Russian ministries give a ‘yes’ to replacement for Stabilisation Fund
1 Mar, 2007 14:01
Russian ministries have approved the idea for the creation of a new reserve fund for oil and gas revenues. The new structure would be a substitute for the current Stabilisation Fund and improve its mechanism.
The new body will include the Reserve Fund and the Fund for Future Generations. The first institution will be used to cover extra expenditures. The second one will be based on the extra revenues left every year from the Reserve Rund.