MOSCOW, January 30 (RIA Novosti) - Russia will have
to spend a significant part of its reserve funds to cover the
2009 budget deficit amid the global financial crisis, Deputy
Premier and Finance Minister Alexei Kudrin said on Friday.
"A significant portion of the reserves will be spent in
2009, but not all," Kudrin told parliament.
Kudrin said the Reserve Fund, designed to cushion the
federal budget against a plunge in oil prices, and the National
Wealth Fund, to help carry out pension reforms, currently total
7.3 trillion rubles ($215 billion).