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15

Russia Secures Budget By Storing Oil Revenue

The stabilization fund, set up to store oil revenue to protect the budget in case oil prices drop

The stabilization fund, set up to store oil revenue to protect the budget in case oil prices drop, will grow by about 10 percent this month to 770 billion rubles ($27.8 billion), Interfax reported, citing a Finance Ministry official.

According to the agency, the fund will grow "by around 70 billion rubles in March," said Tatyana Nesterenko, the head of the ministry's treasury department.