Russian International Reserves Fall $15.7 Billion in Week to Dec. 19

California Analyst Forecasts Brown Surplus to Reach $3.2 Billion

California’s independent Legislative Analyst’s Office said Governor Jerry Brown will have a general fund operating surplus in 2014-2015 of $3.2 billion.

The state’s 2013–14 reserve, forecast at $1.1 billion, will more than double to $2.4 billion, mostly on higher capital gains taxes from stock price growth, the LAO said in a report today.

To contact the reporter on this story: James Nash in Los Angeles at

To contact the editor responsible for this story: Pete Young at

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