Russia's National Wealth Fund falls to $147 bln as of March 1 - Finance Ministry

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 6 (Reuters) - Russia's finance ministry said on Monday that the country's National Wealth Fund (NWF) stood at $147.2 billion as of March 1, equivalent to 7.4% of gross domestic product and down from $155.3 billion a month earlier. The ministry said it spent 131.7 billion roubles ($1.75 billion)of Chinese yuan and gold from the NWF in February to cover the government's budget deficit during the month. Russia's NWF is a rainy day fund built up from years of Russia's profits on oil and gas exports. ($1 = 75.1700 roubles) (Reporting by Darya Korsunskaya; Writing by Alexander Marrow; Editing by Mark Trevelyan)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.