NEWSWATCH: “Russia to become a net borrower for first time in a decade” – bne Intellinews

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“… Russia has been dipping into its rainy day Reserve Fund to cover the federal budget deficit but this fund is due to run out of money sometime next year. Now the government is actively preparing to dip into its other sovereign fund, the National Welfare Fund, that was set up to meet future pension payments, but now will be used to support the economy and budget. * * * Even if Russia become a net borrower for a few years, it can afford it as the state’s external debt is risibly small. … Russia’s sovereign external debt is RUB2.44 trillion ($41bn), or about 10% of its total international reserves and 3.4% of GDP. ….”

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