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[size=36]For the first time, Russia's international reserves cover its foreign debts[/size]
03:34 - 20/02/2019
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Russian President Vladimir Putin praised the economic indicators achieved by Russia and said that their reserves are for the first time cover the size of its external debt, which includes government and commercial debt.
This came during an annual letter Putin addressed the Federal Assembly on Wednesday in the presence of members of the government and a selection of politicians and businessmen.
He stressed that these precautions constitute an economic safety valve for the country, and generate additional income on Russia, and "bring its fruits."
He added that the funds accumulated by the government in the National Welfare Fund, returned to the country income last year about 70.5 billion rubles (about one billion dollars).
The Russian central bank announced last month that Russia's foreign debt fell by 12.4 percent in 2018 to $ 453.7 billion, its lowest level in the past 10 years.
The Russian central pointed out that the government's share of the total debt of only $ 56 billion, while the rest of the debt of $ 398 billion is the responsibility of companies, banks and people.
By comparison, Russia's international reserves at the beginning of February amounted to $ 476 billion, of which $ 89.5 billion were gold reserves.
External debt is part of the country's total debt to external lenders, and the debtor can be a government, financial institution or entity
Russian President Vladimir Putin praised the economic indicators achieved by Russia and said that their reserves are for the first time cover the size of its external debt, which includes government and commercial debt.
This came during an annual letter Putin addressed the Federal Assembly on Wednesday in the presence of members of the government and a selection of politicians and businessmen.
He stressed that these precautions constitute an economic safety valve for the country, and generate additional income on Russia, and "bring its fruits."
He added that the funds accumulated by the government in the National Welfare Fund, returned to the country income last year about 70.5 billion rubles (about one billion dollars).
The Russian central bank announced last month that Russia's foreign debt fell by 12.4 percent in 2018 to $ 453.7 billion, its lowest level in the past 10 years.
The Russian central pointed out that the government's share of the total debt of only $ 56 billion, while the rest of the debt of $ 398 billion is the responsibility of companies, banks and people.
By comparison, Russia's international reserves at the beginning of February amounted to $ 476 billion, of which $ 89.5 billion were gold reserves.
External debt is part of the country's total debt to external lenders, and the debtor can be a government, financial institution or entity
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