Russia needs to borrow 1 trillion roubles more to cover non-oil revenue shortfall

FAN Editor
FILE PHOTO: Russian Finance Minister Siluanov delivers a speech during a session of the lower house of parliament in Moscow
FILE PHOTO: Russian Finance Minister Anton Siluanov delivers a speech during a session of the lower house of parliament in Moscow, Russia March 11, 2020. REUTERS/Evgenia Novozhenina

April 25, 2020

MOSCOW (Reuters) – Russia will need more than 1 trillion roubles ($13.44 billion) of additional borrowing this year to cover the shortfall in non-oil and gas revenues, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Saturday.

Speaking on a state television program, the minister also said that 2 trillion roubles are expected to be directed from Russia’s National Wealth Fund to cover shortfalls in revenues that do come from the oil and gas sector.

(Reporting by Darya Korsunskaya; Writing by Polina Ivanova; Editing by Gareth Jones)

Free America Network Articles

Leave a Reply

Next Post

Coronavirus live updates: 138 inmates test positive for COVID-19 at prison

The global COVID-19 death toll nears 200,000. April 25, 2020, 9:20 AM 4 min read 4 min read Share to Facebook Share to Twitter Email this article A pandemic of the novel coronavirus has now killed nearly 200,000 people worldwide. More than 2.8 million people across the globe have been […]