May 4, 2018 / 3:05 PM / 22 days ago

Russia's National Wealth Fund at $63.91 bln as of May 1

MOSCOW, May 4 (Reuters) - Russia’s National Wealth Fund declined to $63.91 billion as of May 1, down from $65.88 billion a month earlier, the Finance Ministry said on Friday.

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 which will lower the dependence of the Russian economy on global oil prices. (Reporting by Darya Korsunskaya Writing by Katya Golubkova Editing by Maria Kiselyova)

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