The volume of the NWF increased in October by 582 billion rubles (November 8, 2022)

The volume of the National Wealth Fund of Russia (NWF) as of November 1 amounted to 11.374 trillion rubles, or 8.5% of GDP, projected for 2022. A month earlier, it totaled 10.79 trillion rubles, or 8.1% of GDP, according to the website of the Ministry of Finance of the Russian Federation. At the same time, in October, part of the funds of the National Welfare Fund in euros, pounds sterling and yen was sold for a total of 260 billion rubles and credited to the budget to cover its deficit.

“As of November 1, 2022, the volume of the NWF amounted to 11,374,082.0 million rubles, or 8.5% of GDP projected for 2022, which is equivalent to 184,841.3 million US dollars,” the ministry said in a statement. .

The volume of liquid assets of the National Welfare Fund increased to 7.87 trillion rubles (or $127.938 billion) from 7.52 trillion rubles a month earlier.

Of the fund’s funds, 45.73 billion euros, 4.94 billion pounds sterling, 693 billion Japanese yen, 309.7 billion Chinese yuan, 527 million rubles and 554.91 tons of gold in impersonal form were placed with the Bank of Russia. RUB 528.2 billion were placed on deposits with VEB.RF, $3 billion were invested in Ukrainian Eurobonds, RUB 319 billion and $2.2 billion were invested in securities of Russian issuers related to the implementation of self-sustaining infrastructure projects, and RUB 329 billion were invested in preferred shares of banks rubles, on subordinated deposits in VTB and Gazprombank in order to finance self-sustaining infrastructure projects – 138.434 billion rubles, in the shares of Sberbank – 1.43 trillion rubles, Aeroflot – 60.6 billion rubles, DOM.RF – 50 billion rubles, in preferred shares of Russian Railways – 250 billion rubles, in bonds of Siberia Airlines JSC – 11.85 billion rubles, in ordinary shares of JSC STLC – 58 billion rubles, in bonds of OJSC AK Ural Airlines – 2.3 billion rubles .

In October, VEB.RF early returned from deposits a part of the NWF funds placed in 2016-2020 to finance the LCC-1 (131 million rubles) and LCC-2 (131.4 million rubles) projects.

In October, 5 billion rubles from the fund were placed in bonds of the Housing and Public Utilities Reform Assistance Fund (in the amount of 5,031,235 bonds at a price of 1,000 rubles) in order to finance a program to finance the construction, reconstruction and modernization of housing and communal services infrastructure facilities.

In addition, part of the NWF funds on accounts with the Bank of Russia (3.455 billion euros, 375 million pounds sterling and 63.573 billion Japanese yen) were sold for a total of 259.736 billion rubles, and the proceeds were credited to the budget in order to finance its deficit.

The placement of NWF funds in foreign currency accounts with the Central Bank for the period from December 15 to October 31 showed a negative financial result (-$115.8 million or -7.1 billion rubles). The exchange rate difference on the assets of the National Welfare Fund denominated in foreign currency and the revaluation of the cost of gold from January 1 to October 31 in the aggregate amounted to a negative value of -2.67 trillion rubles.

The Ministry of Finance noted that in October the federal budget received income from the placement of NWF funds on a subordinated deposit with VTB Bank in the amount of 3.93 billion rubles, on deposits with VEB.RF – in the amount of 1.67 billion rubles; from placement in securities of Russian issuers related to the implementation of self-sustaining infrastructure projects – another 530 million rubles. The total income from the placement of the fund’s funds in permitted financial assets, excluding funds on accounts with the Central Bank, in 2022 amounted to 40.4 billion rubles, or $636.3 million.

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