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Newfoundland & Labrador > Business

Russia's National Wealth Fund seen at around 12.5 trillion roubles by end-2020: TASS cites finance minister

Reuters | Posted: Oct. 25, 2020, 12:17 p.m. | Updated: Oct. 25, 2020, 11:10 a.m. | 1 Min Read

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MOSCOW (Reuters) - Russia's Finance Minister Anton Siluanov said on Sunday that the size of the National Wealth Fund will stand at around 12.5 trillion roubles ($164.26 billion) by the end of this year, the TASS news agency cited him as saying.

The government does not expect to spend more from the fund than planned to restore the Russian economy, and will only use the funds when oil prices are low, he was cited as saying.

(Reporting by Vladimir Soldatkin; Writing by Polina Ivanova; Editing by Catherine Evans)

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