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Russia’s National Wealth Fund totals $135 bln as of January 1 — finance ministry

According to the ministry, the total estimated amount of revenues from depositing NWF resources on accounts in foreign currency with the Bank of Russia from December 15 to 31, 2023, amounted to $4.6 mln

MOSCOW, January 17. /TASS/. Russia’s National Wealth Fund (NWF) totaled 11.965 trillion rubles ($135 bln) as of January 1, 2024, or 8% of GDP projected for 2023, according to a statement released on the Russian Finance Ministry’s website.

"As of January 1, 2024, the National Wealth Fund totaled 11,965,074.7 mln rubles, or 8% of GDP projected for 2023 <…> which equals $133,407.3 mln," the statement reads.

As of January 1, 2024, the amount of liquid assets of the NWF was 5.01 trillion rubles ($56.6 bln), or 3.3% of GDP projected for 2023.

The total estimated amount of revenues from depositing NWF resources on accounts in foreign currency with the Bank of Russia recalculated to US dollars from December 15 to 31, 2023, amounted to $4.6 mln, which is equivalent to 416.5 mln rubles, the ministry noted.

The exchange rate difference on NWF’s assets nominated in foreign currency and revaluation of gold, in which the NWF’s resources are invested, totally amounted to 2.122 trillion rubles from January 1 to December 31, 2023.

Russia’s Finance Ministry sold 114.94 bln yuan, 232.58 tons of gold and 573.7 mln euro from the National Wealth Fund in December 2023 for financing budget deficit, the ministry reported. Consequently, the euro account in the NWF returned to zero last month.

"In December 2023, part of funds of the NWF on accounts in the Bank of Russia in the amount of 114.94 bln Chinese yuan, 232.58 tons of gold in depersonalized form and 573.7 mln euro were sold for 2.9 trillion rubles ($32 bln). The proceeds were transferred to the single account of the federal budget for financing its deficit," the ministry said.

Currently 227.33 bln Chinese yuan, 358.96 tons of gold in depersonalized form and 1.514 bln rubles are on accounts of the National Wealth Fund with the Bank of Russia.

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