1 Dec 2009 16:56

Russian Reserve Fund shrinks by 3.4 bln rubles, Welfare Fund up 57 bln rubles in Nov

MOSCOW. Dec 1 (Interfax) - Russia's sovereign Reserve Fund contained 2.239 trillion rubles in ruble equivalent ($75.07 billion) and the Welfare Fund held 2.77 trillion rubles ($92.89 billion) on December 1, 2009, the Finance Ministry said.

The Reserve Fund shrank from 2.242 trillion rubles ($77.18 billion) but the Welfare Fund grew from 2.713 trillion rubles ($93.38 billion) on November 1.

The two funds used to constitute the Stabilization Fund, which collected windfall oil revenue and which was reformed on January 30, 2008.