"The sum accumulated in the Stabilization Fund will be 2.3 trillion rubles ($85.98 billion) by the end of this year, or about 8.5% of GDP, and may top 4 trillion rubles ($149.53 billion) by the end of next year, or 13% of GDP," German Gref said.
Addressing an economic forum in southern Russia, Gref also said that Russia's gold and currency reserves stood at $260 billion, and budget surplus was 6.5% of GDP.
Gref said the figures highlighted the country's macroeconomic stability. "The Russian economy is well protected today against external shocks."
He also said the authorized capital of Russia's venture company - a project pursued as part of an effort to revitalize the country's industrial base as it seeks to diversify the economy away from commodity exports - could exceed 15 billion rubles ($560 million).
The money, which is the government's 49% share in the company, will be invested in venture funds run by professional management companies.
