Word: funds
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...seems a little bit out of your usual line. Well, actually, I manage a couple of stock portfolios or funds or whatever you want to call 'em, and I think I've done relatively well with them. My broker says I'm in the top 1% of fund managers with the results I've been having...
...just very smart, she's very likable ... She's very down-to-earth." - Cesar Perales, president of the Puerto Rican Legal Defense and Education Fund. (New York Daily News...
...that's an optimistic forecast." On Friday, government figures for the first quarter showed the economy shrank at an annual rate of 9.5%, a radical revision after officials forecast in February that Russia's GDP would decline by only 2.2% this year. The International Monetary Fund has predicted that Russia's GDP could drop as much as 6% this year. "In 2009, unfortunately, we expect a sharper fall in the GDP than we had thought," Medvedev said. (Watch an interview with TIME's 2007 Person of the Year, Vladimir Putin...
...Kudrin said that even a 5% budget deficit - lower than Medvedev's new prediction - would be enough to exhaust the government's $113 billion Reserve Fund, which is generated mostly through oil and gas export revenues. But he said that since the government is tightening spending and basing its budget on "conservative" oil price forecasts of $50 a barrel in 2010, $52 in 2011 and $53 in 2012, he believes the fund could begin replenishing itself as early as in 2011. Part of the reason for Russia's current predicament is earlier over-optimistic estimates for oil revenues, which make...
...Kudrin also told the press that Russia will not turn to the International Monetary Fund for help, but that the country would consider borrowing more than $7 billion from overseas in 2010 and an additional $10 billion over the following few years. But his emphasis was on lower outlays: "A review of spending, a transition to targeted spending and saving - these are the key words in the next three years," he said. In an apparent swipe at comments by Putin and his team, the Finance Minister said, "There are some optimistic forecasts that there will be some growth next year...