Russia's war in Ukraine is draining state coffers, but the fiscal buffers Moscow has built up over the last two decades will be enough to last for years, even if oil prices slump as low as $60 a barrel. The liquid part of Russia's National Wealth Fund (NWF) has more than halved, falling by $58 billion since the February 2022 invasion of Ukraine, as the government used the money to finance its budget deficit and support state-owned companies. The NWF, a rainy-day fund of accumulated energy revenues, held $55 billion, or 2.7% of gross domestic product (GDP), as of Feb. 1, 2024, down from $112.7 billion, or 6.6% of GDP, as of Feb. 1, 2022, according to finance ministry data.
Russia s war in Ukraine is
draining state coffers, but the fiscal buffers Moscow has built
up over the last two decades will be enough to last for years,
even if oil prices slump as low as $60 a.
Why Russia's economy is doing well despite Ukraine war and Western sanctions firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
A rally in the ruble that’s propelling it toward the strongest since July is the latest piece of Russia’s economic jigsaw to fall into place before a widely expected tilt by Vladimir Putin at another presidential term in March elections. The currency’s reversal of fortunes since early October has brought…
MOSCOW: Russia’s central bank raised interest rates far more than forecast, alarmed that inflationary risks are still on the rise even after a reimposition of capital controls took pressure.