MOSCOW (Reuters) – Russian lawmakers have proposed investing in Russian government securities from the country’s National Wealth Fund (NWF) even if the fund’s liquid part drops below 7% of gross domestic product (GDP), a draft law showed on Friday.
The government is currently only permitted to spend liquid assets that accumulate in the rainy-day NWF above 7% of GDP, but Russian authorities are scrambling to adjust fiscal constraints in an effort to limit the damage done by unprecedented Western sanctions.
(Reporting by Reuters in Moscow; editing by John Stonestreet)
