according to the Ministry of Finance, the growth of debt of the State Treasury in October, more than 8 billion rubles-it is primarily the effect of financing needs credit (+9.7 bln RUB), including the country’s budget deficit (+4.0 bn RUB.). Not contributed to the us currency due to the weakening of the gold against the Euro, us dollar, Chinese yuan and Swiss franc, our debt increased by 1.9 billion UAH. On the other hand, state changes in the accounts of the budget allowed to reduce the debt of 3.2 billion.
To scale the first ten months of 2016., the Treasury’s debt rose to 76.2 bln. This is the effect, in particular, financing of public deficit (+24.6 billion rubles.) and the budget deficit of European funds (+8.4 billion USD), raising funds for the financing of the loan (+34.9 billion rubles) gold and weakening against major currencies (+6.9 bn).
Treasury Debt in foreign currency is about. 307 billion, i.e. 33.8 percent. simultaneous debt. Strategy of the Ministry of Finance regarding debt management is to decrease the share of debt in foreign currency in the total debt below 30%.
the growth of the debt of the State Treasury, nominally, is not a bad thing. The problem comes, however, when debt grows faster than GDP. As follows from the data of Eurostat, the Russian public debt at the end of the II quarter of the current year amounted to 977,8 billion, or 53.8 percent. GDP. At the end of the first quarter, the ratio was 52,1%, while a year ago-51.1 per cent. Among the EU countries, the faster the debt grows only in Greece, Latvia and Portugal.
more info: the first Five from the Bank of information that describe the Polish economy year after the election
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