One of russia\u2019s largest state-owned banks has acknowledged that the liquid portion of the National Wealth Fund (NWF) could be fully exhausted within a year.<\/p>\n
\u25ab\ufe0f According to estimates by Gazprombank\u2019s Center for Economic Forecasting, at current oil prices ($36\u201340 per barrel), the Fund\u2019s resources would last approximately 1\u20131.3 years. If prices fall to $30\u201335 per barrel, the Fund could be depleted by the end of the current year.<\/p>\n
\u25ab\ufe0f NWF assets are being actively used to cover the budget deficit caused by declining oil and gas revenues. The budget\u2019s breakeven oil price is $59 per barrel; any price below that level is compensated from reserves. However, actual prices for russia\u2019s Urals crude have long remained significantly below this threshold, leading to accelerated depletion of the Fund.<\/p>\n
\u25ab\ufe0f Prior to the full-scale invasion, the Fund held $113 billion in liquid assets (6.5% of GDP). As of today, this amount has decreased by 2.5 times\u2014to $52 billion (1.9% of GDP).<\/p>\n
If the NWF is exhausted, the russian authorities will be forced to sharply cut budget expenditures. For years, the fund has been used to finance pension payments and to offset deficits in the pension system. As a result, the kremlin will effectively have to pay for the war with russian citizens\u2019 pensions.<\/p>\n","protected":false},"excerpt":{"rendered":"
One of russia\u2019s largest state-owned banks has acknowledged that the liquid portion of the National Wealth Fund (NWF) could be fully exhausted within a year. \u25ab\ufe0f According to estimates by Gazprombank\u2019s Center for Economic Forecasting, at current oil prices ($36\u201340 per barrel), the Fund\u2019s resources would last approximately 1\u20131.3 years. If prices fall to $30\u201335…<\/p>\n","protected":false},"author":3,"featured_media":43195,"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-43194","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\/43194","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=43194"}],"version-history":[{"count":0,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/43194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media\/43195"}],"wp:attachment":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media?parent=43194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/categories?post=43194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/tags?post=43194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}