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Russian cabinet allocates $16 bln worth of NWF funds for covering budget deficit

The funds will be spent particularly on fully meeting social obligations to citizens, as well as on public borrowings substitution, redemption of national debt and extension of budget loans to regions, the ministry said

MOSCOW, October 20. /TASS/. Russia’s government has requested allocating 1 trillion rubles ($16 bln) worth of funds from the National Wealth Fund (NWF) for covering federal budget deficit this year, according to a respective decree by Prime Minister Mikhail Mishustin released on Thursday.

The Finance Ministry was charged with the task in accordance with the law on setting peculiarities of budget execution in 2022.

The funds will be spent particularly on fully meeting social obligations to citizens, as well as on public borrowings substitution, redemption of national debt and extension of budget loans to regions, the ministry said.

"The right to use the NWF’s funds in 2022 for ensuring the federal budget balance is statutorily required," the ministry explained.

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Sending NATO troops to Ukraine to lead to dangerous escalation — top UK diplomat

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