State debt to pass $US 20 billion by 2010
Published: 06 December, 2007, 12:33
Finance Minister Aleksey Kudrin has been defending plans to increase Russia's national debt over the next three years.
Speaking at a briefing, Kudrin said Russia's net debt will reach U.S. $15 billion next year and will exceed U.S. $20 billion by 2010 .
Kudrin insisted that this level of borrowing was not high, saying it was important as a non-inflationary source of funding.
“This is reasonably conservative planning of the state debt policy and it will be used to re-finance current debt and provide the source of funding,” he said.
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