Russia's National Wealth Fund sees big drop in August
(MENAFN) On Wednesday, Russia's Finance Ministry announced a substantial decrease in the National Wealth Fund's assets, which have dropped to USD133.4 billion as of September 1. This decline amounts to USD8.8 billion from the USD142.2 billion reported at the start of August, reflecting a significant reduction in the fund's overall value. As a result, the fund now represents 6.4 percent of Russia's gross domestic product (GDP), a decrease from its previous proportion.
In terms of liquid assets, which are the funds available for immediate use, the total stands at USD53.2 billion, equating to 2.5 percent of the projected GDP. This is a slight decrease from the USD54 billion in liquid assets reported a month earlier. The reduction highlights a minor but noteworthy decline in the readily accessible portion of the fund, impacting the fund's flexibility and immediate financial capacity.
This reduction in the National Wealth Fund’s assets underscores a broader shift in the fund’s value and its relative size compared to the nation’s economic output. The substantial drop from the previous month's figures indicates potential adjustments or challenges within the fund's management or broader economic conditions affecting its value.
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