January 17, 2018 / 2:56 PM / 7 months ago

Russian finance ministry to borrow less in 2018 due to lower deficit: minister

MOSCOW (Reuters) - Russia’s finance ministry plans to borrow less this year than in 2017 due to a smaller budget deficit and higher oil revenues, Finance Minister Anton Siluanov told RBC TV in an interview on Wednesday.

Russian Finance Minister Anton Siluanov attends a session of the Gaidar Forum 2018 "Russia and the World: values and virtues" in Moscow, Russia January 17, 2018. REUTERS/Sergei Karpukhin

“The deficit is shrinking this year and total borrowing volumes will be less than in 2017,” he said. “The total amount of revenues... including from oil... will be enough to cover borrowing needs if we decide not to tap the market.”

Reporting by Katya Golubkova; Editing by Jack Stubbs

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