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Putin says situation around state debt administration is difficult

February 15, 2013, 20:02 UTC+3

The debt burden exceeds the GDP in some of developed economies, he noted

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MOSCOW, February 15 (Itar-Tass) – The situation in the sphere of state debt administration is very difficult, Russian President Vladimir Putin said on Friday at a meeting with Group of Twenty Finance Ministers and Central Bank Governors.

The debt burden exceeds the GDP in some of developed economies, he noted.

Apart from that, it is not clear how these states are going to service their debts. “It makes investors restless, while these states find themselves in a vicious circle of debt and economic crises,” the Russian president said.

According to Putin, investor trust might be won only when the governments conduct a clear and transparent policy of budget deficit and state debt administration.

He also noted that Russia’s agenda will continue the discussion within the Group of Twenty. “We shall continue to implement agreements on the establishment of a more fair and crisis-resistant financial system,” he pledged.

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