The volume of the NWF increased in August by 390 billion rubles

As of September 1, the volume of the National Wealth Fund (NWF) of Russia amounted to 13.703 trillion rubles. (9.1% of GDP projected for 2023), which is equivalent to $142.852 billion, the press service of the Ministry of Finance reports.

Thus, in August, the NWF increased by 390 billion rubles. As of August 1, its volume was RUB 13.313 trillion (8.9% of GDP projected for 2023), or $146.33 billion.

The volume of funds of the National Welfare Fund in the accounts of the Central Bank at the beginning of the month amounted to 7.251 trillion rubles. ($75.59 billion, 4.8% of projected GDP). 5.22 billion euros, 279.77 billion Chinese yuan, as well as 508.26 tons of gold in depersonalized form and 6.77 billion rubles were placed on separate accounts for accounting for the funds of the National Welfare Fund with the Bank of Russia. From December 15, 2022 to August 31, 2023, the total income from placing funds of the National Welfare Fund in foreign currency accounts of the Central Bank amounted to $87.1 million, which is equivalent to 8.35 billion rubles.

In August, part of the NWF funds on the accounts of the Central Bank – 385.2 million yuan and 570.2 kg of gold in depersonalized form – was sold for 8.3 billion rubles, the Ministry of Finance noted. The proceeds went to finance the federal budget deficit.

How wrote Earlier than Vedomosti, the government may consider reducing the use of NWF funds to finance the budget deficit in 2023-2024. The Ministry of Finance recalled that the budget rule during the transition period provides for the use of the NWF to finance additional expenses, but not more than 2.9 trillion rubles. this year and $1.3 trillion next.

According to the current budget law, revenues for 2023 are planned in the amount of 26.1 trillion rubles, expenses – 29 trillion, thus, the deficit is expected at the level of 2.9 trillion, or 2% of GDP.