Official: Russia can cut 2021 debt program by 600–700 bln rbl

MOSCOW, Mar 10 (PRIME) -- The Russian Finance Ministry may cut the 2021 debt program by 600–700 billion rubles, Deputy Minister Vladimir Kolychev said Wednesday.

"Since last year, the non-energy revenue exceeded our forecasts due to a more dynamic recovery of the economy, the remainders formed last year can be spent to raise spending without raising new debt provided by the budget," Kolychev said.

Earlier on Wednesday, Finance Minister Anton Siluanov said that the ministry did not rule out lower borrowing in 2021 and that part of spending could be financed with spare budget remainders from 2020.

(74.2640 rubles – U.S. $1)

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