Russia's nat'l wealth fund contracts by 102 bln rubles to 12.6 trln rubles in June
MOSCOW. July 3 (Interfax) - Russia's National Wealth Fund (NWF) totaled nearly 12.602 trillion rubles, the equivalent of $146.962 billion, on July 1, or 7% of projected GDP for 2024, the Finance Ministry said.
The fund had therefore contracted by 102 billion rubles from June 1, when it totaled nearly 12.704 trillion rubles, the equivalent of $141.489 billion, or 7.1% of GDP.
The NWF's liquid assets totaled the equivalent of 4.603 trillion rubles, or $53.684 billion, on July 1, in line with 2.6% of GDP. The assets totaled 5.046 trillion rubles, or $56.2 billion, in line with 2.8% of GDP, the previous month.
The NWF's liquid assets as of May 1 were equivalent to 5.172 trillion rubles, or $56.355 billion and 2.9% of forecast GDP for 2024. Liquid assets totaled 5.087 trillion, or $55.083 billion and 2.8% of GDP, on April 1; 5.045 trillion rubles, or $54.911 billion and 2.8% of GDP on March 1; 4.907 trillion rubles, or $54.958 billion and 2.7% of GDP, on February 1; and 5.012 trillion rubles, or $55.88 billion and 3.3% of GDP, on January 1.
In June, funds from the federal budget in December 2023-February 2024, related to forming additional oil and gas revenues, were used to purchase 1.917 billion yuan and 2.817 tonnes of unallocated gold held in NWF accounts for calculating funds in yuan and gold.
The total volume of unallocated gold held in NWF accounts declined to 303.579 tonnes from 329.705 tonnes at the beginning of June. The Finance Ministry previously said that the decrease in gold resulted from operations to manage liquidity, with gold held in the accounts sold and the funds allocated to finance specific projects. The Finance Ministry sold 23 tonnes of gold in March as part of the operations.
The volume of yuan held in NWF accounts rose by 1.917 billion yuan, from 227.616 billion yuan to 229.533 billion yuan, in line with crediting the December-February acquisitions, and 1.676 billion rubles were deposited in NWF accounts.
