Russia's reserve fund declines to $16.07 billion over February
Russia's Reserve Fund declined slightly to $16.07 billion by March 1 from $16.18 billion at the start of the previous month, Russia's finance ministry data showed.
The Reserve Fund, which was accumulated over years of high oil prices, dropped sharply in late 2016 because of year-end budget spending but stabilised in the last couple of months.
The Reserve Fund may grow later this year as the finance ministry has started buying foreign currency for the country's fiscal buffers, Reuters reported.
The finance ministry also said on Thursday that the National Wealth Fund, a fund designed to help balance the pension system, stood at $72.60 billion as of March 1 versus $72.46 billion as of February 1.