Finance min: No plans to limit borrowings of Russian cos abroad

MOSCOW, Aug 12 (PRIME) — Russias Finance Ministry does not plan to set limits on the amount of borrowing made by Russian companies abroad, Deputy Finance Minister Sergei Storchak told reporters Friday.

The ministry believes that companies are able to conduct rational borrowing policies, Storchak said.

However, the government realizes that some regulation of the sector should be introduced, he said, adding that the ministry recently suggested that companies should borrow funds from abroad only for large infrastructure or industrial projects.

Corporate foreign debt of Russian companies amounted to U.S. $485.6 billion as of the middle of this year, representing 25% of the gross domestic product (GDP).


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