8 April 2013

Anton Siluanov: Russia is proposing its own approach to government borrowing to G20 economies

Speaking at the extended meeting of the Ministry of Finance Board on the 2012 results, ministry head Anton Siluanov stated that effective state debt and financial assets management was one of the key tasks for 2013.

"The next task is efficient management of the government debt and government financial assets, the task of ensuring our presence at the financial markets in order to, on the one hand, gather the necessary resources to finance the budget deficit, and on the other hand, avoid raising interest rates at the financial market and, accordingly, credit interest rates at the banking sector," Anton Siluanov said, stressing that keeping the stable and safe debt burden was a top priority here.

The minister also said that Russia proposed to the G20 economies within the Russian presidency exactly this approach for making borrowings.