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The Volume Of the Reserve Fund Amounted to 1.007 Trillion Roubles
August 17, 2017 10:27


(Source: http://www.stroyka74.ru/news)

The volume of the Reserve Fund of Russia amounted to 1.007 trillion roubles (16.91 billion dollars) by the beginning of August. This is reported in a press release on the website of the Ministry of Finance.

The National Welfare Fund reached 4.435 trillion in rouble terms (equivalent to 74.72 billion dollars). The balances of individual accounts for the account of the Reserve Fund amounted to 7.62 billion US dollars, 6.71 billion euros and 1.1 billion pounds. As for NWF, in the last six months it was placed on accounts of the Central Bank, Vnesheconombank’s deposits, as well as was invested in foreign debts and securities of Russian issuers related to infrastructure projects.

The income of NWF for the past six months has made up $ 50 million. In late July the State Duma adopted a draft law on the merger of the Reserve Fund and the National Welfare Fund in the final third reading. The funds will completely merge no later than on February 1, 2018.

A Stabilization Fund with a volume of 171.3 billion roubles was created back in 2004, under the Minister of Finance Aleksei Kudrin. In 2008 it was divided into the Reserve Fund and the National Welfare Fund (by that time the Stabilization Fund had accumulated 3.8 trillion roubles).


Sources: http://lenta.ru 

Author: Anna Dorozhkina

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