Russia’s Reserve Fund, which it uses to plug gaps in the budget, has slumped 30 percent since the start of last year. Finance Minister Anton Siluanov warned Wednesday that the buffer may be depleted entirely in 2016 if the government doesn’t enact bold spending cuts.
The fund, which was built from windfall oil revenue, stood at $59.35 billion at the end of November. That compares with a five-year high of $91.72 billion in August 2014. Russia’s budget is based on an average oil price of $50 per barrel, while Brent is trading near the lowest level in 12 years, slightly above $31. December fund figures are due to be released on Wednesday
SOURCE – Bloomberg
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.