Russian Finance Ministry plans to fulfill 2023 borrowing program conservatively, without excessive premiums - Maximov

ST. PETERSBURG. Dec 8 (Interfax) - Russia's Finance Ministry plans to implement an ambitious borrowing program for 2023 in the traditional conservative style, without excessive premiums, Deputy Finance Minister Timur Maximov said when speaking at the Russian Bond Congress organized by Cbonds.

"The borrowing program for 2023 is sufficiently ambitious at 3.5 trillion rubles in nominal volume. We plan to fulfill it in the Finance Ministry's traditional conservative way by offering the entire range of instruments available to us, and, of course, by finding a delicate balance between supply and demand, without excessive premiums," Maximov said.

"You can see from all our recent actions that this is exactly what is happening. This allows us to raise a sufficiently large volume in order to finance the deficit," the deputy minister noted.

Maximov said that, "public finances in general and the debt profile in particular - despite all the events - remain within parameters that indicate that the budget has possibilities to incentivize policies." Maximov also said that, "and the features of debt sustainability are unquestioned."

The debt level remains sufficiently low, the deputy minister said.

"We see that the level allows us to say confidently that Russia's government finances are in decent shape," Maximov said.