Yuan, gold assets from NWF sold for budget financing — Russian Finance Ministry
Business & Economy
June 02, 2023, 15:09
The money earned was credited at the integrated federal budget account to finance its deficit
MOSCOW, June 2. /TASS/. Sales of 2.59 bln yuan ($366.8 mln) and almost 3.9 metric tons of gold from the National Wealth Fund made it possible to allocate 48.97 bln rubles ($605.4 mln) to finance the budget deficit, the Russian Finance Ministry said on its website.
"In May 2023, <…> a portion of NWF money at accounts with the Bank of Russia totaling 2.59 bln yuan and 3.86 metric tons of gold in the depersonalized form were sold at 48.967 bln rubles. The money earned was credited at the integrated federal budget account to finance its deficit," the ministry said.
NWF accounts with the Bank of Russia currently keep 9.054 bln euro, 285.7 bln yuan ($40.4 bln), 517.1 metric tons of gold in the depersonalized form and 228 mln rubles ($2.81 mln).