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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Russia may seek loans of $18bln

Posted on 27 July 2009

From Moscowtimes.ru: Russia is looking to borrow $18 billion abroad next year to help fund its budget deficit, while revenues could get a $2 billion boost from higher taxes for the gas sector, a Finance Ministry source said Friday. The bulk of the deficit will be funded from Russia’s oil wealth funds.

The budget and the scale of borrowing have been the subject of hot debate as the government seeks the best way to fund the high spending needed to see the economy out of recession………..Full Article: Source


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