Russian Finance Ministry plans to borrow over 4 trln rubles annually over three years - Siluanov

MOSCOW. Sept 22 (Interfax) - The Russian Finance Ministry plans to borrow more than 4 trillion rubles annually on the domestic market in the next three years, Finance Minister Anton Siluanov said.

"Sources of financing for the budget deficit will be raised on the domestic market to support expenditure financially. The total volume of such sources for financing expenditures will amount to more than 4 trillion rubles annually," the minister said at a cabinet meeting at which the draft three-year budget was discussed.

Prime Minister Mikhail Mishustin said at the meeting that the budget deficit over the next three years would be covered "mainly through borrowing."

The existing 2023-2025 budget targets borrowing of 3.4 trillion rubles with government securities in 2024 and 3.5 trillion rubles in 2023.