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National Wealth Fund to remain safety net for Russia amid global turbulence, says Kremlin

As Dmitry Peskov noted, there are also options for using the NWF’s funds on a repayable basis for the development of megaprojects to be developed

MOSCOW, September 28. /TASS/. The National Wealth Fund (NWF) should remain a safety cushion for Russia amid the constantly declining predictability of the global environment, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday.

"Overall, we are facing the ever-declining threshold of predictability of global economic events. In such a turbulent world, the National Wealth Fund should remain as a safety cushion, of course," he said when asked where additional revenues flowing to the Fund due to an increase in gas prices might be allocated.

Moreover, options exist, and are being developed, for using the NWF’s funds on a repayable basis for the development of megaprojects, Peskov added. "Those projects exist, some of them are well-known, some are being developed. This is what the NWF is for," he said.

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