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Sovereign Wealth Funds Briefing - Categorized | Investment, People, Trends

Russia: Minister Proposes Splurging Welfare Fund on Infrastructure Projects

Posted on 26 June 2014

Russia should take all of the money from a fund earmarked to cover future pension deficits and invest it in profitable infrastructure projects to generate good returns, Economic Development Minister Alexei Ulyukayev told the Vedomosti business daily in an interview published Wednesday. The government earlier this month raised the cap on spending from the National Welfare Fund, which collects revenue from oil and gas sales, the country’s biggest exports.
It now allows 60 percent of the fund to be spent on domestic infrastructure projects, up from an earlier 40 percent. The fund, designated to cover the future pension deficit of the country’s rapidly aging population, was $87 billion at the beginning of the month………………………………………..Full Article: Source


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