Page 91 - RusRPTNov22

The Moscow Exchange expects an increase in the volume of corporate bonds in circulation by the end of 2023 to 18.1 trillion rubles. – in September, their size was 17.6 trillion rubles. This was stated by Gleb Shevelenkov, Director of the Exchange's Fixed Income Department, at the Expert RA conference "The Future of the Bond Market: Returning to Growth". The absolute volume of government securities may grow from 15.6 trillion to 16 trillion rubles, but the relative volume will decrease from 27 to 25% of Russia's GDP. But everything will depend on geopolitics and market conditions, Shevelenkov noted: the market may grow if the geopolitical situation does not worsen.
The bond market coped well with the sanctions shock and the outflow of investors after the increase in rates on bank deposits, according to Expert RA. According to the agency’s research, after reaching a historical maximum of 17.6 trillion rubles at the end of 2021. the corporate bond market shrank to 16.7 trillion rubles by the middle of the year, but by the end of September it
91 RUSSIA Country Report November 2022 www.intellinews.com