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Russian Finance Ministry retains plans to attract up to $3 bln in foreign markets in 2018

June 26, 11:36 UTC+3

According to finance minister, the total amount of borrowings in 2019 and 2020 will remain approximately at the level of the current year

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© Dmitriy Rogulin/TASS

MOSCOW, June 26. /TASS/. The Russian Finance Ministry plans to attract up to $3 bln by the end of 2018 on foreign markets, First Deputy Prime Minister and Finance Minister Anton Siluanov said in an interview with Rossiya 24 TV channel.

"I think that for the second time this year we will be able to enter foreign markets for borrowing, which will be up to $3 bln by the end of this year," he said.

According to him, the total amount of borrowings in 2019 and 2020 will remain approximately at the level of the current year. "We plan to borrow both on the domestic market, which will be the main source, and in foreign markets. We have the opportunity to enter foreign markets - this fall we will consider this issue," he said.

According to Siluanov, in 2018, borrowing is necessary to finance planned expenditures. At the same time, the minister confirmed that later the attracted funds can be used for the Infrastructure Development Fund, which will be established in 2019.

The Russian budget for 2018 includes external borrowings totaling $7 bln, including $4 bln for exchanging old issues of Eurobonds for new debt securities.

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