Report: Executive says AvtoVAZ's debt burden exceeds 100 bln rbl

MOSCOW, Feb 17 (PRIME) -- The debt burden of Russian car producer AvtoVAZ amounts to more than 100 billion rubles, President Maxim Sokolov told channel Rossiya 24 on Friday.

"It amounts to more than 100 billion rubles. It is floating, of course, because some credit lines close, some credit lines reopen," Sokolov said, adding that the company paid more than 10 billion rubles of interest on the debt in 2022.

The official said that the company is trying to minimize the debt and expects the government to introduce supporting mechanisms.

(74.7638 rubles – U.S. $1)

End