June 6, 2018 / 3:40 PM / in 16 days

Russia's National Wealth Fund at $62.75 bln as of June 1

MOSCOW, June 6 (Reuters) - Russia’s National Wealth Fund declined to $62.75 billion as of June 1, down from $63.91 billion a month earlier, the Finance Ministry said on Wednesday.

The ministry said earlier this year it had fully drained its Reserve Fund to plug budget holes by the end of 2017, ahead of switching to a new budget mechanism in order to lower the dependence of the Russian economy on global oil prices. (Reporting by Polina Nikolskaya Editing by Denis Pinchuk)

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