Russia's Finance Ministry may increase borrowings on domestic market in 2018

2018-04-23 01:30:14

(MENAFN- Trend News Agency ) Russia's Finance Ministry may increase the program of borrowings on the domestic market for 2018 by 200 bln rubles ($3.2 bln), but this is not caused by the new sanctions against Russia, head of the ministry's department Konstantin Vyshkovsky said on the sidelines of the spring meeting of the International Monetary Fund and the World Bank, TASS reports.

"Yes, we may increase it a little (the program of internal borrowings for 2018) by 200 billions. This is due to the fact that the ruble was stronger than the one that was taken into account when the budget was made," he said.

Thus, the volume of domestic loans in Russia may reach 1 trillion rubles ($1.6 bln) this year.

Vyshkovsky stressed that this will not be a redistribution of volume of borrowings from the foreign loans to domestic loans.

"If we are changing something now, it has nothing to do with the sanctions, on the contrary, it is connected with the macroeconomics," he said.

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