Official: Russian govt can borrow hard currency domestically ‘16
LIMA, Oct 9 (PRIME) -- The Russian Finance Ministry can borrow in foreign currencies on the domestic market in 2016 but the amount will be insignificant for the state budget, Deputy Finance Minister Sergei Storchak told reporters Friday.
“Here – auctions. It will depend on what the auction situation will be. We will not borrow at any costs,” Storchak said.
The net domestic borrowing will stand at 500 billion rubles next year, as follows from the draft budget.
The amount of foreign borrowing can exceed U.S. $3 billion in 2016 if the environment is favorable, the official said. “The budget is quite flexible. We are now talking about $3 billion. If there is a good situation – we will most probably be able to change our plans,” Storchak said.
(62.2942 rubles – U.S. $1)
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