Russia sold 7.47 billion Chinese yuan and 11.8 tons of gold for a total of 137 billion rubles to finance the budget deficit.
The aggressor country Russia sold almost 12 tons of gold from the National Welfare Fund (NWF) in March to cover the budget deficit. This is confirmed by the data of the Ministry of Finance of the Russian Federation, published on Wednesday, April 5.
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So last month Russia was forced to sell 7.47 billion Chinese yuan and 11.8 tons of gold for a total of 137 billion rubles to finance the budget deficit.
“As of April 1, 2023, the amount of NWF reached 11.9 trillion rubles, or 7.9% of GDP projected for 2023,” the report said.
Currently, the accounts of the National Welfare Fund with the Bank of Russia have 10.39 billion euros, 292.5 billion Chinese yuan, 527.3 tons of gold in depersonalized form and 140.7 million Russian rubles.
Note that in January of this year, Russia started selling gold and this trend has been going on for three months in a row. At the same time, in January-February, the budget deficit of the Russian Federation reached 2.581 trillion rubles (about $34 billion) and almost approached the annual plan at the level of 2.925 trillion rubles ($38.7 billion). Data for March is not yet available.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.