the national welfare Fund (NWF) of Russia has decreased for the last month to 244,3 billion and 1 June of the current year amounted to almost 12.2 trillion, or 10.7% of GDP.
“as of June 1, 2020 NWF amounted to 12 trillion, 161 billion 482,2 million rubles, or 10.7% of the GDP projected for 2020”, the equivalent of $171 billion 888,9 million, indicated in the materials of the Ministry of Finance of the Russian Federation.
Recall that on 1 may this year, NWF has reached 12 trillion and 405 billion 770,3 million (10.9% of GDP).
the Ministry said that the volume of liquid assets of the Fund on June 1, amounted to 8,205 trillion rubles ($115,97 billion). The remaining funds placed in different accounts, stocks and bonds.
Note that last year the Fund increased in ruble terms by 3.7 trillion to 7 trillion 773 billion 62.6 million rubles on January 1, 2020.
In accordance with the Budget code of the Russian Federation, all oil and gas revenues from oil prices over straps cut-off ($40 per barrel in 2017, then indexed annually by 2%) are considered optional and at the expense of the NWF is formed. To the accumulation in the Fund of 7% of GDP all of his funds should be placed into Deposit accounts of the Central Bank, which invests only in highly liquid foreign assets, and over this strap is permitted in other financial assets.
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