Banknotes of U.S. dollars and Russia's rubles
Photo: Ivan Makeev
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Domestic Debt of Russia Up to 1.65 Trillion Rubles
The state domestic debt of Russia grew 189.4 billion rubles (21.6 percent) to 1,064.9 billion rubles as of January 1, 2007, according to adjusted data of Russia’s Financial Ministry. The Act on 2006 Federal Budget spelled out the debt ceiling of 1,148.7 billion rubles.
Foreign debt of Russia stepped up $257.2 billion to $309.7 billion past year. The surge could be blamed on the private business, which was borrowing aggressively, CBR explained.
The domestic debt-to-GDP ratio was 4 percent as of January 1, 2007 vs. 4.1 percent as of January 1, 2006. As to the debt structure, government’s bonds accounted for 1,028 billion rubles, or 96.5 percent of the overall, having grown by 176.9 billion rubles on year. Government’s guarantees amounted to 31.2 billion rubles (2.0 percent of the overall amount), 12.4 billion rubles above 2005.
As to the external debt of Russia, the share of private sector widened from 68.1 percent to 84.2 percent, while the debt of state bodies lowered from 31.9 percent to 15.8 percent.
The amount of state debt that Russia assumed following the collapse of the Soviet Union narrowed 3.5 fold to $9.8 billion as of January 1, 2007. The debt amassed by the Russian Federation shed from $35.7 billion to $33.8 billion.
www.kommersant.com
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