The government's two sovereign wealth funds swelled by 58 billion rubles ($1.73 billion) last month to reach a combined $172.15 billion despite slumping economic growth and depreciating ruble, the Finance Ministry said Tuesday.
The aggregate size of Russia's Reserve Fund as of Sept. 1 was 2.83 trillion rubles ($85.38 billion), while the National Prosperity Fund had 2.88 trillion rubles, the ministry said, Interfax reported.
As reported earlier, the Reserve Fund had 2.8 trillion rubles and the National Prosperity Fund had 2.85 trillion rubles as of Aug. 1. Therefore, the funds have been augmented by 31.56 billion rubles and 26.75 billion rubles, respectively, over the past month.
Also, the ministry said that as of Sept. 1, the remaining balances on individual bank accounts were $38.08 billion, 29.40 billion euros and £5.40 billion.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
