• 25/07/2024 15:11

Putin's reserve fund has lost $50 billion in two years

The volume of the National Welfare Fund (NWF) of the Russian Federation, created under the leadership of Vladimir Putin, as of January 1, 2024, amounted to 11.97 trillion rubles or $133.4 billion in equivalent. “Business.Censor” writes about this.

Putin's reserve fund has lost $50 billion in two years

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How the volume has changed

In December last year, the volume of the National Welfare Fund decreased by 1.5 trillion rubles or $17.7 billion, according to data from the Russian Ministry of Finance.

At the end of 2023, the Ministry of Finance allocated 2.9 trillion rubles from the National Welfare Fund to cover the federal budget deficit.

At the same time, the fund’s balances in euro accounts were reset to zero (as of early December last year they amounted to 3.27 billion euros). Consequently, only rubles, gold and Chinese yuan remained in the National Welfare Fund.

Read: Putin’s Reserve Fund “lost weight” by $8 billion over the month

At the same time, the volume of the fund’s liquid assets fell to 5.01 trillion. rub. ($55.88 billion) compared to 6.75 trillion rubles ($75.9 billion) as of December 1, 2023. At the beginning of 2022, the volume of liquid funds of the National Welfare Fund was estimated at 8.43 trillion rubles or $113.5 billion.

As of January 1, 2024, 227.33 billion yuan were placed in the accounts of the National Welfare Fund, 358.96 tons of gold in impersonal form and 1.514 billion rubles. 658.8 billion rubles were placed on deposits in WEB.rf, $3 billion were invested in debt obligations of foreign states.

minfin.com.ua

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