Russia's Reserve Fund reaches $130.3 bln

MOSCOW, July 1 (RIA Novosti) - Russia's Reserve Fund, set up to accrue surplus revenues from oil exports, totaled $130.3 billion as of July 1, while the National Prosperity Fund stood at $32.85 billion, the Finance Ministry said.

The Reserve and National Prosperity funds held $129.32 billion and $32.6 billion, respectively, one month ago.

At the time they were established on February 1, 2008, the Reserve Fund held $125.19 billion, while the National Prosperity Fund had $32 billion.

Russia's Finance Ministry divided the former Stabilization Fund into the Reserve Fund, designed to cushion the federal budget in the event of an oil price plunge, and the National Prosperity Fund, designed to help Russia carry out pension reforms, on February 1.