Russian senator: Italy’s rejection of constitutional reforms may create problems for EURussian Politics & Diplomacy December 05, 11:37
Russian prosecutors oppose closing embezzlement case against opposition activist NavalnyRussian Politics & Diplomacy December 05, 10:53
Jailed Russian activist Dadin convoyed to another regionRussian Politics & Diplomacy December 05, 10:36
Russia may start wheat exports to Venezuela in early 2017Business & Economy December 05, 10:05
Van der Bellen wins Austrian presidential electionWorld December 05, 8:33
FINA names Russians Romashina, Ishchenko best athletes in synchro in 2016Sport December 05, 7:55
Japanese, Russian foreign ministers hold detailed discussion on peace treatyWorld December 05, 7:52
Italian PM Matteo Renzi announces his intention to resignWorld December 05, 4:37
Media: Moscow not seen as possible host of Eurovision 2017 song contestSociety & Culture December 04, 22:22
ST. PETERSBURG, June 19. /TASS/. Russian companies and banks will repay around $60-70 bln of foreign debt in 2015, Deputy Finance Minister Maxim Oreshkin told TASS on Friday.
He added that debt redemption will potentially trigger the trend of decreasing negative impact of sanctions’ extension on the Russian economy.
"Even without extension of sanctions and keeping them in the current regime their negative impact will be subsiding each year. Sanctions first of all affected the financial account of payment balance: access to international markets closed, which made Russian companies and banks repay their foreign debts. As debt is being repaid its volume is decreasing, which will positively impact the whole situation," he said.
According to Central Bank’s estimates, till the end of 2015 payments on external corporate debt with account of refinancing will stand at around $40 bln. All in all, for the whole 2015 the volume of external payments will equal to $70 bln. Hereafter, the volume of redemption will decrease to around $40 bln in 2016 and $20 bln in 2017.
Redemption of external debt by companies and banks will be the main reason for capital outflow from Russia till 2018.
Russia reduced its state debt by third in 2014. Currently it stands at around $52 bln, or around 5% of GDP.