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Sovereign Funds Lose 1.5%

Two sovereign wealth funds declined 1.5 percent last month as the government used some of its savings from oil sales to stimulate the economy, the Finance Ministry said Tuesday.

The funds held $168 billion at the end of November compared with $170.6 billion a month earlier, the ministry said. The Reserve Fund fell to $75.1 billion from $77.2 billion, while the Welfare Fund declined by $500 million to $92.9 billion.

(Bloomberg)

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