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MOSCOW, March 3. /TASS/. Russia’s Reserve Fund set up to accumulate surplus oil revenues and cushion the budget against a sharp fall in oil prices decreased by 19.5% in February to 4.721 trillion rubles ($75.75 bln) by March 1 from 5.865 trillion rubles ($85.09 billion) as of February 1, the Finance Ministry said on Tuesday.
Russia’s National Welfare Fund established to help the government implement pension reform dropped by 10% in February to stay at 4.591 trillion rubles ($73.66 billion) as compared to 5.1 trillion rubles ($74.02 billion) a month ago, the ministry said.
The State Statistics Service registered the highest level of the Reserve Fund at $137.34 billion (12.5% of the GDP) in February 2009, while the lowest level was at $25.21 billion (1.4% of the GDP) in January 2012.
The highest level of the National Welfare Fund was at $93.38 billion (7% of the GDP) in November 2009, while the lowest level was at $31.92 billion (1.9% of the GDP) in September 2008.
Since the beginning of the year, the Reserve Fund has lost 4.5% and the National Welfare Fund has lost 4.6%.
On January 15 - February 28, 2015 the Reserve Fund's investment losses were estimated at 4.13 billion roubles ($66 million), the National Welfare Fund's losses were at 2.45 billion roubles ($39 million).
Russia’s international reserves are highly liquid foreign assets managed by the Central Bank of Russia. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.
Russia’s international reserves fell by $124.135 billion or 24.4% in 2014 to $385.46 billion as of January 1, 2015.