Putin

  

Russia’s policy has become a concern for Western countries, as the position and decisions of Moscow started to often go against the opinion and notion of the West about world politics.

This happened in the situation with the IMF, when Russia decided to use “surplus” money from the National Wealth Fund of Russia in order to maintain and develop the economy, but the International Monetary Fund forbids to use this money inside the country. According to the IMF, these funds should be invested in securities and assets of foreign states.

The National Wealth Fund of Russia is a reserve fund of the state that is formed at the expense of the oil and gas sector, the additional income of the federal budget, etc. It is something like a “safety cushion” for the Russian economy in the event of a crisis.

As of September 1st 2019 the fortune of the fund is estimated to be at $122.88 billion, which is approximately 7.2% of GDP.

But despite the position of the IMF, Moscow nevertheless decided to invest the so-called “monetary surplus” (this is all the money that exceeds 7% of GDP) in the development of Russia.

According to the Minister of Finance Anton Siluanov, the received money will be used for the construction and modernisation of infrastructure facilities in regions of the country.