Russia’s Finance Ministry may borrow up to 3 bln rbl abroad 2016

MOSCOW, Nov 13 (PRIME) -- Russia’s Finance Ministry may borrow U.S. $3 billion abroad to finance budget deficit if economic conditions do not change in 2016, Minister Anton Siluanov said at a meeting with the State Duma, the parliament’s lower chamber, on Friday.

“We’ve set the task to enter foreign markets. We will see whether these foreign debt rates are affordable for us. Nevertheless, the budget draft foresees an up to 3 billion ruble foreign debt,” he said.

“I am sure, if the situation does not change significantly, we will raise this money to finance budget deficit.”

But the Reserve Fund will remain the main source to finance the budget deficit, Siluanov also said.

(65.4541 rubles – U.S. $1)

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