Page 81 - RusRPTNov23

On March 29, the Bank of Russia reported that Russia’s external debt as of January 1, 2023, amounted to $380.5bn, while in 2022 the figure decreased by $101.8bn.
The Russian Finance Ministry can revise the domestic borrowing plan for the next year if the situation is comfortable, Finance Minister Anton Siluanov said on the air with the Rossiya-24 television channel.
"In the next year, we keep plans for loans determined for this three-year period. In other words, we did not increase them in 2023, 2024, and 2025, but I do not rule out, if the situation is good, we can make correcting decisions on borrowings in the next year, just as in this year. Overall, our borrowing plans are feasible; the budget will be supported with financing sources," the minister noted.
Internal borrowings are the main source to cover the budget deficit, Siluanov said. "The budget deficit will be covered at the expense of domestic borrowing sources. This is our main resource. Indeed, we have revised the amount of borrowings in the internal market this year, we managed to reduce it because we have the good situation evolving in foreign markets. We are receiving additional oil and gas revenues," he added.
81 RUSSIA Country Report November 2023 www.intellinews.com