Mironov suggested that a special account be opened in the name of every newborn Russian child. The account would hold $10,000 petrodollars that could be used only after the person turns 20 and under certain conditions. He suggested that only boys would benefit. According to the official, young men would be allowed to take out the $10,000 and accrued interest only after serving in the army and having a clean criminal record.
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Russia: $10,000 From Huge Oil Revenues To Every Newborn
The government should award $10,000 of oil revenues to every newborn Russian
Russian parliament official Sergei Mironov proposed that instead of accumulating vast sums in the Stabilization Fund and investing the money abroad, the government should award $10,000 of oil revenues to every newborn Russian.
He stated, the growth the oil exports revenues and a huge Stabilization Fund would allow Russia to create the ?fund of future generations?.
The speaker of the Federation Council criticized the Russian government?s plans to invest a part of the Fund?s assets into low-risk securities. He said that in such a way Russia ?credits strangers, the economy of foreign states?.
Mironov suggested that a special account be opened in the name of every newborn Russian child. The account would hold $10,000 petrodollars that could be used only after the person turns 20 and under certain conditions. He suggested that only boys would benefit. According to the official, young men would be allowed to take out the $10,000 and accrued interest only after serving in the army and having a clean criminal record.
Mironov suggested that a special account be opened in the name of every newborn Russian child. The account would hold $10,000 petrodollars that could be used only after the person turns 20 and under certain conditions. He suggested that only boys would benefit. According to the official, young men would be allowed to take out the $10,000 and accrued interest only after serving in the army and having a clean criminal record.
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