Page 66 - RusRPTOct22

5.2.4 Gross international reserves
Russia’s international reserves as of September 1, 2022, amounted to $565.66bn, which is 1.95% (or $11.244bn) lower than at the beginning of August, the Bank of Russia said.
As of September 1, 2021, international reserves amounted to $618.181bn. Governor of the Bank of Russia Elvira Nabiullina said earlier that around $300bn worth of gold and foreign currency reserves of the Russian Federation were frozen as a result of western sanctions.
Ensuring a balanced budget will require the allocation of 2.9 trillion rubles ($48.3bn) from the National Wealth Fund (NWF) in 2023. and 1.3 trillion rubles ($21.7bn) in 2024, according to the guidelines of the budget, tax and customs tariff policy for 2023-2025 (the text of the document was obtained by TASS).
"During 2023-2024, the funds of the National Wealth Fund will be used to ensure the balance of the federal budget in the amount of 2.9 trillion rubles and 1.3 trillion rubles, respectively, creating conditions for the transition from 2025 to the normalisation of budget policy," the document says.
It also clarifies that in 2023 the volume of the NWF will amount to 6.253 trillion rubles ($104bn), in 2024 - 5.947 trillion rubles ($99.6bn), in 2025 - 6.644 trillion rubles ($110bn).
66 RUSSIA Country Report October 2022 www.intellinews.com