The National Welfare Fund will be replenished by 1 trillion rubles by the end of 2023. – Kommersant

The National Welfare Fund will be replenished by 1 trillion rubles by the end of 2023.  – Kommersant

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As predicted by the Ministry of Finance, the National Welfare Fund (NWF) will be replenished by 1 trillion rubles by the end of 2023, said the head of the department, Anton Siluanov. He clarified that 2.9 trillion rubles. from the fund will be used to balance the budget.

The minister said that at the end of the year the volume of the National Welfare Fund will be 12 trillion rubles. Of this, about 4.7 trillion rubles is “the liquid part not related to projects,” he added. “We’ll replenish it by about 1 trillion rubles—by the way, we’ve already replenished it, some of the funds have already been transferred, and in December they already arrived at the National Welfare Fund. And for December it will arrive at the beginning of next year… And 2.9 trillion rubles. We are using it as planned for the needs of fulfilling expenditure obligations, that is, a balance of 1.9 trillion rubles, as planned,” Mr. Siluanov said in an interview with Rossiya 24.

According to him, in 2024 it is planned to replenish the National Welfare Fund by an average of approximately 500 billion rubles. “According to the forecast for 2025–2026, it will be replenished by approximately 1.8 trillion rubles,” added the head of the Ministry of Finance.

At the beginning of 2023, the volume of the National Welfare Fund was estimated at 10.435 trillion rubles. (6.3% of GDP). In September, the ministry estimated that by the beginning of 2024 the volume of the fund would be 12.177 trillion rubles; it was planned to replenish the fund by 1.089 trillion rubles.

Based on the results of November, the National Welfare Fund decreased by 107 billion rubles. The Ministry of Finance reported that last month the federal budget was replenished by placing the fund’s funds on deposits with VEB.RF (395.8 million rubles) and in bonds of NLK-Finance LLC (234.1 million rubles). Central Bank announced resumption from January 2024 of operations on the domestic foreign exchange market related to the replenishment and use of funds of the National Welfare Fund.

Laura Keffer

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