As of December 1, the Reserve Fund totaled 3.661 trillion rubles ($132.63 billion), while the National Prosperity Fund stood at 2.109 trillion rubles ($76.38 billion).
However, due to steady weakening of the ruble and unfavorable exchange rates, the Reserve Fund actually decreased by almost $2 billion in dollar equivalent in November.
The national development bank VEB held 365 billion rubles ($13.3 billion) of the National Prosperity Fund's resources as of December 1, 2008, the ministry said.
The Finance Ministry divided the former Stabilization Fund into the Reserve Fund, designed to cushion the federal budget against a plunge in oil prices, and the National Prosperity Fund, designed to help Russia carry out pension reforms, on February 1 this year.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: North Pole: Living on the Top of the World
Infographics: Powerful Ship-Borne Laser System
Cartoons: Polar Explorer Day
The current contract portfolio of Russian arms exporters is worth about $46 billion. Annual exports total $15 billion, and this will ensure uninterrupted deliveries for the next three years, even in the worst-case scenario. The list of the main buyers of Russian weapons is unlikely to change drastically.