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Financials

Russia's wealth fund grows to $210.6 bln as of July 1

July 5 (Reuters) - The value of Russia’s national wealth fund (NWF), which accumulates profits from the country’s oil revenues, stood at $210.6 billion as of July 1, up from $197.7 billion a month earlier, finance ministry data showed on Tuesday.

The national wealth fund also bought 50 billion roubles ($797.87 million) worth of Gazprombank’s preferred shares in June, the ministry said.

Russian authorities plan to use funds from the rainy-day NWF fund as the main source of financing for a budget deficit seen this year.

$1 = 62.6670 roubles Reporting by Reuters

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