March 2, 2017 / 8:52 AM / 9 months ago

Russia's Reserve Fund little changed over February

MOSCOW, March 2 (Reuters) - Russia’s Reserve Fund declined slightly to $16.07 billion by March 1 from $16.18 billion at the start of the previous month, finance ministry data showed on Thursday.

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.

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 Feb. 1. (Reporting by Andrey Ostroukh; Editing by Alexander Winning)

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