© Photo: Maria Novoselova / Vestnik Kavkaza
The Ministry of Finance intends to borrow 3.5 trln rubles in 2023. The money will be borrowed from Russian banks and used to pay off debts and other budget needs.
The Russian Ministry of Finance will borrow 3.5 trln rubles in 2023.
"This year we have to borrow 3.5 trln rubles on the market. This is money that will be used to finance our expenses and to pay off debt obligations. We take this money, firstly, from banks and financial institutions,”
- Head of the Ministry of Finance Anton Siluanov said.
He acknowledged that the funds that the state takes from the economy could be used for loans to domestic industries and the population. According to Siluanov, the room for maneuver narrows for banks, when the government withdraws large sums to the budget.
