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Stabilization Fund hits $77 bln as of July 1 - Finance Ministry

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MOSCOW, July 4 (RIA Novosti) - Russia's Stabilization Fund stood at $76.9 billion as of July 1, a month-on-month increase of $5.13 billion, the Finance... 04.07.2006, Sputnik International

2006-07-04T12:36+0000

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Stabilization Fund hits $77 bln as of July 1 - Finance Ministry

12:36 GMT 04.07.2006

MOSCOW, July 4 (RIA Novosti) - Russia's Stabilization Fund stood at $76.9 billion as of July 1, a month-on-month increase of $5.13 billion, the Finance Ministry said Tuesday.

The Stabilization Fund was established in 2004 to accumulate windfall profits from oil prices and hold back inflation by neutralizing an influx of petrodollars.