16:45, 14 January 2009 Page views 299 views

New State Corporation will be Established by Russian Government

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Another state corporation – Russian Financial Agency (RFA) – is planned to be established in Russia. New corporation should be in charge of the state’s financial assets management, which totally almost 7 trillion roubles. Russian Government intends to discuss draft of the bill about RFA establishment on March, 2, 2009.

Functions of RFA are not finally certain yet. According to experts, the Agency will manage facilities of National Wealth Fund to the amount of 2.5 trillion roubles, and also other financial assets, in the number of which may get Reserve Fund (4 trillion roubles), Pension Funds (350 billion roubles), external and internal debt of the country. Future institution is the most suitable method to pass money in an effective management and save state control after financial assets.

Vedomosti Newspaper

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