Russia’s National Wealth Fund to Help Plug Fiscal Deficit to the Tune of $16.25 Billion

Posted on 10/20/2022


Russia’s National Welfare Fund (National Wealth Fund) spent around 1 trillion roubles (US$ 16.25 billion) to cover the Russian government’s budget deficit. Russia’s finance ministry said the government had approved taking the funds from the National Wealth Fund “to finance budgetary expenses” and “ensure the budget’s equilibrium.”

Russia is expected to post a budget deficit of around 2% of gross domestic product for 2022.

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