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Russia: Key Reserve Fund to Run Dry by End of Next Year

Russia says it will likely deplete one of its two rainy day funds by the end of next year as it tries to plug the state deficit amid the economic downturn. The economy fell into recession this year for the first time since 2009 due to Western sanctions and a drop in prices for the country's crucial energy exports. Personal incomes have fallen for the first time since President Vladimir Putin came to power 15 years ago. Finance Minister Anton Siluanov told the parliament on Tuesday...

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