Russia's NWF shrinks by 324 bln rubles to 12.277 trln rubles in July

MOSCOW. Aug 7 (Interfax) - Russia's National Welfare Fund (NWF) totalled 12,277.511 billion rubles (equivalent of $142.216 billion) or 6.4% of anticipated 2024 GDP on August 1, the Finance Ministry reported.

The sovereign wealth fund stood at 12.602 trillion rubles (equivalent of $146.962 billion) or 7% of GDP on July 1, so it shrank by 324.2 billion rubles in July.

The fund's liquid assets stood at the equivalent of 4.665 trillion rubles or $54.038 billion on August 1, which amounts to 2.4% of GDP.

The liquid assets amounted to 4.603 trillion rubles ($53.684 billion) or 2.6% of GDP a month earlier; 5.046 trillion rubles ($56.2 billion) or 2.8% of GDP on June 1; 5.172 trillion rubles ($56.355 billion) or 2.9% of GDP on May 1; 5.087 trillion rubles ($55.083 billion) or 2.8% of GDP on April 1; 5.045 trillion rubles ($54.911 billion) or 2.8% of GDP on March 1; 4.907 trillion rubles ($54.958 billion) or 2.7% of GDP on February 1; and 5.012 trillion rubles ($55.88 billion) or 3.3% of GDP on January 1.

Gold in unallocated form in accounts that record NWF funds decreased further in July, to 298.840 tonnes from 303.579 tonnes at the start of the month and 329.705 tonnes at the start of June. The Finance Ministry previously attributed the decrease in the amount of gold to transactions to manage the fund's liquid portion, with gold being sold and the proceeds used to finance certain projects.

NWF accounts also held 226.533 billion yuan and 368.5 million rubles on August 1.