Summarizing the results of the Reserve Fund establishment and management in 2008, the author draws the following conclusions. Its establishment proceeded from the intention of the Government to stabilize budget outlays, commodity prices notwithstanding. The Reserve Fund is meant to meet budgetary expenditures in case of a mid-term drop in oil prices. The Stabilization Fund of the Russian Federation enabled to establish the Reserve Fund in its primary size. The Government of the Russian Federation exercises new principles of oil and gas revenues management, which resulted in the increase of the Reserve Fund stock. The value of the latter is now as stipulated in the Federal budget law of 2008. The Reserve Fund is managed just like the Stabilization one is. The purpose thereof is to ensure the safety of funds and the long-term steady income level.
