Russia to spend $6.8 billion from wealth fund on infrastructure projects in 2022

“These are the long-term investment funds that we will guide. This is our contribution to the investment cycle,” Russia’s First Deputy Economy Minister Yili Ya Torosov told a banking forum in Kazan on Friday. According to Torosov, Russia plans to refund cash used for infrastructure projects – he did not provide details – in year. Moscow has previously announced plans to invest in new highways and expand the rail network. Russia sent troops to Ukraine in February and the consequent Incoming Western sanctions have led to a reduction in its oil and gas purchases, while many foreign companies have left the country. Therefore, Russia plans to spend up to 4 trillion rubles from the NWF alone this year to fund a budget deficit of about 1%. GDP, according to the Ministry of Finance. So Torosov said spent 1 billion rubles earlier this year on maintaining financial stability, its state-owned financial entity responsible for housing investment Dom.RF and Gazprombank jointly responsible for Gazprom (MCX: 200 GAZP), received

billion rubles of support. finished 25 billion rubles to support the country’s largest employer, Russian Railways and Russia’s flagship airline Aeroflot, among others. ($1=. rubles)