Wealth fund revenue to be paid into federal budget from Jan 1
MOSCOW. Aug 27 (Interfax) - Revenue from the management of Russia's Reserve Fund and National Welfare Fund will be paid into the federal budget from next year, Russian Prime Minister Vladimir Putin said at Thursday's government session.
"All revenue from the management of Reserve Fund and National Welfare Fund assets will be paid into the federal budget from January 1, 2010," Putin said.
In addition, he said "the percentage of profit that the Bank of Russia is obliged to pay into the federal budget will increase for a period of three years."
The Central Bank currently pays half of its profit into the budget, but will have to pay 75%, Putin said.