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NWF to grow by more than $5 bln in 2024 — Russian Finance Minister

The amount of target replenishment of NWF money can be about $11.9 bln this year, Anton Siluanov noted

MOSCOW, October 10. /TASS/. The National Wealth Fund will grow by more than 500 bln rubles ($5 bln) in 2024, Russian Finance Minister Anton Siluanov said on the air with the Rossiya-24 television channel.

"We see in general that the National Wealth Fund will be replenished next year on a net basis by more than half a trillion rubles, and therefore our financial reserve will also be complemented next year. This is good. This creates the budget stability for us on the one part and generates a required source to finance key projects, infrastructural projects, and technology ones where the use of Fund’s money is stipulated," Siluanov said.

The amount of target replenishment of NWF money can be about 1.2 trillion rubles ($11.9 bln) this year, the minister noted.

"Owing to the good market situation, the National Wealth Fund will be replenished this year, even despite the fact that we will substitute borrowing sources for a portion of oil and gas revenues," the minister said.

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