The Government has withdrawn an additional $62.3 Billion from the Natural Resource Fund (NRF), the Finance Ministry has announced. 

According to the Ministry, the withdrawal was done in accordance with the Natural Resource Fund Act and the approved 2024 Budget.

The $62.3 Billion transfer brings the accumulated withdrawals to date in 2024 to $239.1 Billion of the $329.9 billion that has been approved for withdrawal for this year.

While considering the Budget earlier this year, the National Assembly approved the withdrawal of just over $329.9 Billion from the Natural Resource Fund for this year.

In 2023, more than US$1 Billion was withdrawn from the fund.

The Government has repeatedly said that it has been using the money to finance “national development priorities” in accordance with the Natural Resource Fund (NRF) Act.

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