The volume of the National Wealth Fund (NWF), also called “Russia’s main money box”, fell by 63 billion rubles to 12.29 trillion rubles in June. In this respect informs Interfax citing Anton Siluanov, head of the Ministry of Finance.
At the same time, the minister estimated the liquid part (currencies and gold) of the NWF at 6.446 trillion rubles.
“The illiquid part is investments in facilities, projects and the like,” Siluanov said at the State Duma Budget Committee meeting.
According to the minister, in June the volume of NWF decreased as a result of revaluation. Siluanov noted that some of the gold calculated in the NWF volume was invested. Another part of the funds is accounted for in friendly currencies, especially the Chinese yuan.
As of June 1, the volume of the NWF is estimated at 12,353 trillion rubles. – 8.2% of Russia’s projected GDP (gross domestic product) for this year. The liquid part of the fund is estimated at 6.643 trillion rubles. From February to May, the volume of NWF increased by 2.1 trillion rubles. Exchange rate and currency revaluation totaled approximately 2.5 trillion and net asset sales of approximately 400 billion. The latter was made to close the gap in oil and gas revenues from the plan.
NWF is a “safety cushion” that allows the state to compensate for the loss in oil and gas revenues and fulfill all social obligations undertaken in the event of a sharp fall in oil prices.
formerly Siluanov said about pessimists and optimists.