This country's foreign debt is "extremely low" now, accounting for just a little bit over 30 percent of the Gross Domestic Product, Kolotukhin said. But however the economic situation develops, the Russian government will manage to service and repay its debt with money allowed for the purpose in the federal budget, he believes. And it could always use its Stabilization Fund just in case more money is needed.
Kolotukhin does not think Russia's entry into international financial markets will have any serious implications for the stability of its domestic economy. Russian operators should decide whether to enter this or that market by analyzing the conditions for borrowing and the budget needs.
The conditions for borrowing are quite favorable, the Deputy Finance Minister noted. But Russia's exact budget needs for foreign loans will have to be estimated. With that in mind, the government is now reviewing the first-quarter budget execution results, Kolotukhin reported.
