Middle East Economic Survey
BUDGETS AND REVENUES
Russia Unveils New Rules For Oil Fund
The Russian Government has unveiled new rules for its oil stabilization fund, saying it can now only be invested in top-rated US and European government bonds. The fund is expected to approach nearly Rs600bn ($20.5bn) by the end of this year as a result of fiscal surpluses for the past five years due to conservative management. The new law will allow the government to spend any...