The chamber will conduct regular monitoring of the investment of funds of the NWF

MOSCOW, October 12. The chamber will conduct regular monitoring of the investment of funds of the national welfare Fund (NWF) in infrastructure projects to evaluate the effectiveness of this mechanism will require a minimum of a year. This was stated by the head of the accounting chamber Tatyana Golikova in an interview.

“Look at how the money was being spent, and then make a final conclusion. Today do not feel particularly optimistic, watching the unfolding work,” she said.

While Golikova noted that it is too early to give a definitive conclusion about the effectiveness of the mechanism of investing the national welfare Fund.

“It would be wrong to say that this brand new mechanism of use of budgetary funds, it should work for some period of time. Let’s give at least a year to get the project turned around, and after rate performance. Still refrain from harsh statements,” she said.

According to the Finance Ministry, on October 1, 2015, the aggregate volume national welfare Fund amounted to 4,879 trillion. In securities of infrastructure projects invested at the moment 112,63 billion and $1,21 billion, on Deposit in the Bank VTB and Gazprombank to Finance infrastructure projects posted 164,43 billion.

As for the rest of NWF, in the preference shares of banks placed 278,99 billion, balances with the Bank of Russia – $20,98 billion, 21,99 billion euros, 4,03 billion pounds on Deposit with Vnesheconombank – 195,03 billion rubles and $6.25 billion and Eurobonds of Ukraine at $3 billion.

Read the whole interview