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Putin: State Reserve Fund, Currency Gold Reserves Good Safety Cushion

© Sputnik / Iliya Pitalev / Go to the mediabankA gold bar from the collection of the Russian State Precious Metals and Gemstones Collection Fund under the Finance Ministry. (File)
A gold bar from the collection of the Russian State Precious Metals and Gemstones Collection Fund under the Finance Ministry. (File) - Sputnik International
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The Russian government’s reserve funds and the central bank’s currency and gold reserves provide a good safety cushion for the national economy, Russian President Vladimir Putin said Friday.

MOSCOW (Sputnik) — Russian President Vladimir Putin is holding a major end-of-the-year press conference, where he is expected to focus on economic issues, the situation in Syria, Russia-US relations and the Ukrainian peace settlement.

"The government’s reserve fund has shrunk a bit but stayed basically the same in November … at $100 billion. There’s been an uptick in the central bank’s gold and currency reserves, from the initial $368 billion to the current $400 billion or over $385 billion. So we’re faring well, it’s a good safety cushion," Putin said at the annual press conference.

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