MOSCOW, January 9 (RIA Novosti) - Russia's Stabilization Fund stood at 3.85 trillion rubles ($157 billion) on January 1, 2008, compared to 2.35 trillion rubles ($89.1 billion) a year earlier, the Finance Ministry said on Wednesday.
From February 2008, the Stabilization Fund, which was established to accrue surplus revenues from high world oil prices, will be divided into the Reserve Fund and the National Prosperity Fund.
The Reserve Fund, expected to total 10% of Russia's GDP, will cushion the federal budget in the event of an oil price plunge. Oil and gas revenues above this limit will supplement current budget spending and will go to the National Prosperity Fund.
