About Prospects of the National Wealth Fund

Relevance. In a modern economy, it is important for the state to have a reserve fund to finance its tasks in unforeseen situations. On the other hand, under normal economic conditions, a sovereign fund can become a tool to increase the country's investment activity. At the moment, Russia has the only sovereign fund, the National Welfare Fund, which is replenished with additional revenues from the oil and gas sector. In the near future, the NWF may become a backbone link in the socio-economic development of the Russian Federation.
The purpose is a new model for filling and managing the funds of the National Wealth Fund in order to maximize the efficiency of using the liquid part of the fund's resources for the comprehensive socio-economic development of Russia and making an economic breakthrough in key sectors of the economy.
Objectives: consider the modern model of management and filling the National Wealth Fund; analyze the world experience in the functioning of sovereign wealth funds; propose promising sources of additional financial resources for the National Welfare Fund; consider promising projects and directions for using the liquid part of the NWF funds.
Methodology. The study used the method of comparing world and domestic practices of the functioning of sovereign funds. The method of statistical analysis of financial indicators of the National Welfare Fund and its promising branches of replenishment was used. The methods of modeling and analysis of the efficiency of using the liquid part of the NWF funds when investing them in the national economy have been used.
Results. The analysis showed that there is a rich world experience in the effective use of sovereign funds as a tool for the country's socio-economic development. An analysis of the domestic practice of the National Welfare Fund's functioning showed that there are broad prospects for both its filling at the expense of export-oriented sectors of the economy, in addition to the oil and gas sector, and areas for investing the liquid part of the NWF.
Conclusion. Revision by the state of the role of the National Welfare Fund in the socio-economic development of the country could solve many social and infrastructural problems of the Russian Federation.

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