Russia in February sold 12 tons of gold from the National Welfare Fund to cover the budget deficit.
From the funds of the National Wealth Fund of Russia in February, they sold gold and Chinese yuan in the amount of 131 billion rubles. Proceeds from the sale of 12 tons of gold and 7.3 billion yuan were used to finance the budget deficit. This was reported by the press service of the Ministry of Finance of the Russian Federation on Monday, March 6.
“In February 2023, part of the funds of the National Welfare Fund in accounts with the Bank of Russia in the amount of 7.3 billion Chinese yuan and 12 tons of gold in impersonal form were sold in the amount of 131.7 billion rubles. The proceeds were credited in a single account of the federal budget to finance its deficit”, said the message.
The Ministry of Finance of the Russian Federation noted that there are now 10.46 billion euros in NWF accounts with the Bank of Russia; 300 billion Chinese yuan; 539.2 tons of gold in impersonal form; 6.1 billion rubles.
Recall that in January, for the first time, Russia sold gold from the wealth fund to cover a sharp increase in the budget deficit. In total, 3.6 tons of gold and 2.3 billion Chinese yuan were sold. In total, 38.5 billion rubles were received from the sale.
In the first two months of this year, the budget deficit of the Russian Federation reached 2.581 trillion rubles (about $34 billion) and almost reached the annual plan at the level of 2.925 trillion rubles ($38.7 billion).
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Source: korrespondent
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