Page 64 - RusRPTNov23

5.2.4 Gross international reserves
Russia’s international reserves as of October 6, 2023, amounted to $562.8bn, having decreased by $5.6bn over the week, according to the Bank of Russia.
Russia’s international reserves amounted to $569.021bn as of October 1, 2023, which is 2.17% (or $12.638bn) lower than the amount at the beginning of September, the Central Bank said in a statement. As of October 1, 2022, Russia’s international reserves amounted to $540.688bn. In September, foreign exchange reserves decreased by 1.96% - to $428.522bn. The value of monetary gold in reserves decreased over the month by 3.02% and amounted to $140.499bn.
The National Wealth Fund will grow by more than 500bn rubles ($5bn) in 2024, Russian Finance Minister Anton Siluanov said on the air with the Rossiya-24 television channel. "We see in general that the National Wealth Fund will be replenished next year on a net basis by more than half a trillion rubles, and therefore our financial reserve will also be complemented next year. This is good. This creates the budget stability for us on the one part and generates a required source to finance key projects, infrastructural projects, and technology ones where the use of Fund’s money is stipulated," Siluanov said. The amount of target replenishment of NWF money can be about 1.2 trillion rubles ($11.9bn) this year, the minister noted. "Owing to the good market situation, the National Wealth Fund will be replenished this year, even despite the fact that we will substitute borrowing sources for a portion of oil and gas revenues," the minister said.
64 RUSSIA Country Report November 2023 www.intellinews.com