MOSCOW, May 2 (RIA Novosti) - Russia's Stabilization Fund stood at 2,920.5 billion rubles ($113.7 billion) on May 1, up 3.9% from the April 1 figure, the Finance Ministry said Wednesday.
As of January 1, 2007, the fund equaled 2,347 billion rubles ($91.38 billion).
In his budget address in early March, President Vladimir Putin called for transforming the Stabilization Fund, set up in 2004 to accumulate windfall oil revenues, into the Reserve Fund and the Future Generations Fund.
According to the Finance Ministry's investment formula, U.S. dollars account for 45% of the Stabilization Fund's foreign currency, euros make up 45%, and 10% is in British pounds.
The Stabilization Fund is expected to reach 3,691 billion rubles ($143.7 billion) as of January 1, 2008.
