Russia's National Wealth Fund up 643.2 bln rubles to 13.3 trln rubles in July, liquid assets 4.8% of GDP

MOSCOW. Aug 4 (Interfax) - Russia's National Wealth Fund or NWF totaled around 13.313 trillion rubles as of August 4 and was the equivalent of $146.337 billion, or 8.9% of forecast GDP for 2023, the Finance Ministry said in a statement.

The fund totaled about 12.67 trillion rubles as of July 1, the equivalent of $145.578 billion, or 8.4% of forecast GDP for 2023, meaning that it increased by 643.18 billion rubles during July.

Some of the NWF money on accounts with the Central Bank of Russia - 2.125 billion yuan and 3.151 tonnes of unallocated gold - was sold for 44.358 billion rubles in July compared with 66.979 billion rubles in June, with the proceeds credited to the federal budget's single account in order to finance the deficit.

Some 500,000 rubles to co-finance the pension accruals of persons who paid additional contributions to funded pensions were credited to the federal budget's single account.

The NWF's liquid assets were the equivalent of 7.183 trillion rubles as of August 1, or $78.957 billion and 4.8% of forecast GDP for 2023.

The amount of funds in euros on separate NWF accounts with the Bank of Russia was unchanged at 7.278 billion euros. Accounts also held 280.159 billion yuan, 508.835 tonnes of unallocated gold and 5.491 billion rubles, up from 400.4 million rubles the previous month.

The exchange rate difference on the balance of the fund's assets denominated in foreign currency was 1.047 trillion rubles and in gold - 839.63 billion rubles, the total revaluation for the month being 411 billion rubles; the difference on funds placed in Eurobonds of Ukraine was 61.922 billion rubles, and on securities of Russian issuers associated with self-sustaining infrastructure projects and denominated in foreign currency it was 42.66 billion rubles.