NWF is a sovereign fund previously planned for infrastructure development, social and pension reserve. It was previously matched by twin Reserve Fund, which was mainly a fiscal buffer that was completely depleted for financing the federal budget in 2016 and 2017.
Since the beginning of 2018 the ministry acquired about $28bn in this way, and could buy another $35bn by the end of the year. The NWF could thus increase to $140bn by the end of 2018 reaching about 8% of GDP, the analysts surveyed by Reuters believe.
Notably, while about 40% of NWF is already invested in infrastructure projects or deposited on the accounts of state banks and institutions it is unlikely that the steadily growing fund will be tapped more becoming a sizable sovereign buffer.