Russian FinMin spends over $5 bln from Reserve Fund in April to cover deficit

May 5, 2016 11:20 AM

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MOSCOW May 5 Russia's Finance Ministry resumed depletion of its Reserve Fund in April, spending over $5 billion to finance the budget deficit, the ministry said on Thursday.

The ministry said the Reserve Fund stood at $44.96 billion on May 1 compared to $50.60 billion a month earlier. It said it spent $2.6 billion, 2.3 billion euros ($2.63 billion) and 0.4 billion pounds ($578.08 million) from the fund in April.

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