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Russia’s Reserve Fund grows 70% in 2014 — Finance Ministry

MOSCOW, January 13. /TASS/. Russia’s Reserve Fund, set up to accrue surplus revenues from oil exports and cushion the budget against a sharp fall in oil prices, grew by 70% in 2014 year on year to 4.945 trillion rubles (about $88 billion) as of January 1, 2015, the Finance Ministry said on Tuesday.

Russia’s National Welfare Fund, set up to implement pension reform, increased by 50% last year to 4.388 trillion rubles ($78 billion), the Finance Ministry said.