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Russia to spend nearly USD 10 bln on foreign debt by 2015

July 19, 2012, 6:23 UTC+3
More than 90 percent of these amounts will be interest payments on government securities
1 pages in this article
Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

MOSCOW, July 19 (Itar-Tass) —— Russia will spend 9.4 billion U.S. dollars on foreign debt servicing until 2015, according to the main guidelines for the budget policy for 2013 and the projected period of 2014-2015, posted on the Finance Ministry’s website.

Budget appropriations for foreign debt servicing will amount to 84.8 billion roubles (2.9 billion U.S. dollars) in 2013, to 97.1 billion roubles (3.2 billion U.S. dollars) in 2014, and to 102.5 billion roubles (3.3. billion U.S. dollars) in 2015.

More than 90 percent of these amounts will be interest payments on government securities, the nominal value of which is dominated in foreign currency, which equals, in absolute terms, 81.6 billion roubles (2.7 billion U.S. dollars) in 2013; 93.3 billion roubles (3.1 billion U.S. dollars) in 2014; and 99.2 billion roubles (3.1 billion U.S. dollars) in 2015.

Due to an increase in the amount of floated government securities denominated in Russian roubles, expenditures related to the servicing of the internal debt will grow in 2013 by 16.7 percent from 2012 to 360.1 billion roubles, in 2014 by 23.2 percent from 2013 to 443.7 billion roubles, and in 2015 by 18.4 percent from 2014 to 525.5 billion roubles.

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