Finance Ministry says plans to raise debt within 20% of GDP

MOSCOW, Jul 18 (PRIME) -- The Finance Ministry will raise the state debt from the current 22.8 trillion rubles, or 14.9% of the gross domestic product (GDP) but plans to remain within 20% of the GDP, Deputy Minister Irina Okladnikova said on Tuesday.

"We must support the military sector, our four new regions need significant support. This is why we will raise debt, but we will try to remain in the safe margin," Okladnikova said.

"We’ve set the safe margin at 20% of the GDP. The figure was set as the indicator in the state program. This is the debt limit that we must not exceed in the most pessimistic situation."

(90.4217 rubles – U.S. $1)

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