Report: Finance Ministry says not to borrow money in 2022

MOSCOW, Apr 11 (PRIME) -- The Finance Ministry does not plan to borrow money inside or outside Russia in 2022, Minister Anton Siluanov said in an interview with Izvestiya daily, released on Monday.

“We do not need to borrow from the market. We have adjusted the budget policy, and all the income of the budget, including energy and non-energy income, is the source for our spending and for debt repayment,” he said.

“This year we do not plan to enter either the internal or external debt market. It does not make sense, because the cost of such borrowing would rocket into the stratosphere,” he said.

The ministry is unlikely to borrow from abroad in the near future, but can extend the internal debt, Siluanov said.

Russia is ready to prove in the court that it has made everything possible to fulfil its Eurobond obligations to foreign investors if the default is announced by Western states, the minister said.

He added that the Finance Ministry has recommended Russian companies prioritizing repayment of internal debts.

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