What is ‘National Welfare Fund (Russia)’
One of two parts of the Russian sovereign wealth fund, the other being the Reserve Fund. The National Welfare Fund invests its funds abroad to counteract inflation in the Russian ruble. Combined, the Reserve Fund and National Welfare Fund make up one of the largest sovereign wealth funds in the country.
Explaining ‘National Welfare Fund (Russia)’
The National Welfare Fund originated from the Stabilization Fund of the Russian Federation, which was established to help balance the Russian government’s fiscal budget. In 2008, the fund was split into a Reserve Fund and the National Welfare Fund. The Reserve Fund is invested in conservative foreign investments and is used as a stabilization fund to balance the federal budget. The National Welfare Fund is invested more aggressively.
Further Reading
- Economic practicability substantiation of financial instrument choice – www.ceeol.com [PDF]
- Sovereign wealth funds: dangers and opportunities – academic.oup.com [PDF]
- Russian patrimonial capitalism and the international financial crisis – www.tandfonline.com [PDF]
- The political economy of sovereign wealth funds – link.springer.com [PDF]
- Putin's economic record: Is the oil boom sustainable? – www.tandfonline.com [PDF]
- Russia after the global financial crisis – rsa.tandfonline.com [PDF]
- The empire strikes back: Economic statecraft and the securitisation of political economy in Russia – www.tandfonline.com [PDF]
- Special vehicles of state intervention in Russia and Kazakhstan – link.springer.com [PDF]
- Russia's economic agenda to 2020 – academic.oup.com [PDF]
