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  N e w s

25 JUNE 2003  

Gold and currency reserves of the Central Bank of Russia exceed the country’s needs

According to the experts of the Centre of macroeconomic analysis and short-term prognosis, gold and currency reserves volume considerably exceeds the needs of the country.

$45-46 bln of gold and currency reserves are enough, according to the experience of world economics. Now gold and currency reserves of the central Bank amount to $64 bln.

Russian Union of Manufactures and Employers proposes to direct gold and currency reserves of the Central Bank to investment projects. The propositions have been approved by the President and directed to the Prime Minister Mikhail Kasyanov.


Source: RosBusinessConsulting


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