16 April 2004 16:59
Russia`s foreign debt at "very low level", minister says
Moscow, 16 April: Russia's Finance Ministry does not see any risks for Russia to enter international capital
markets regardless of the price of oil, Russia's main export commodity, Deputy Finance Minister Sergey Kolotukhin
told reporters on Friday [16 April].
"Russia's foreign debt currently accounts for over 30 per cent of gross domestic product, which is a very
low level, and the budget will be sufficient to cope with the payments on the debt," Kolotukhin said.
According to information released by the Central Bank of Russia on 1 April, Russia's total foreign debt in 2003
rose 18.8 per cent on the year to 182bn dollars.
[Russia's sovereign foreign debt totalled 119.6bn dollars or 95.7bn euros as of 1 January, Kolotukhin said, as
quoted by Prime-TASS news agency, Moscow, in English 1423 gmt 16 Apr 04. He said that the amount of foreign debt is
strongly influenced by fluctuations of the dollar against the euro. He added that about 35 per cent of Russia's
debt was denominated in euros.]
[Prime-TASS news agency] |
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