Former Russian Finance Minister Mikhail Zadornov said that Russia\u2019s National Welfare Fund\u2014heavily drained to cover budget deficits during the war\u2014would last only six months if oil prices were to drop significantly.<\/p>\n
As of today, the fund\u2019s liquid assets stand at approximately 3.8 trillion rubles ($42 billion), or less than 2% of GDP\u2014down from 7.4% of GDP before the full-scale invasion. Zadornov emphasizes that balancing Russia\u2019s budget is only possible if military operations come to an end.<\/p>\n
While Putin promises to maintain the fund\u2019s reserves, the reality is that Russia\u2019s \u201crainy day\u201d savings are running out. The money meant to ensure economic stability for Russians is instead being funneled into the war of aggression against Ukraine.<\/p>\n
Earlier, the Center reported that after nearly three years of full-scale war, the National Welfare Fund has shrunk by two-thirds. It now holds fewer reserves than at any time since its creation in 2008.<\/p>\n","protected":false},"excerpt":{"rendered":"
Former Russian Finance Minister Mikhail Zadornov said that Russia\u2019s National Welfare Fund\u2014heavily drained to cover budget deficits during the war\u2014would last only six months if oil prices were to drop significantly. As of today, the fund\u2019s liquid assets stand at approximately 3.8 trillion rubles ($42 billion), or less than 2% of GDP\u2014down from 7.4% of…<\/p>\n","protected":false},"author":3,"featured_media":27560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","wds_primary_category":930,"footnotes":""},"categories":[930],"tags":[],"class_list":["post-27559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rf-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/27559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/comments?post=27559"}],"version-history":[{"count":0,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/27559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media\/27560"}],"wp:attachment":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media?parent=27559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/categories?post=27559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/tags?post=27559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}