The Russian Federation is currently outlining its borrowing strategy for the year, with Finance Minister Anton Siluanov publicly stating that the Ministry intends to raise about 3.5 trillion rubles in gross borrowing while planning to repay roughly 1 trillion rubles. He shared these figures during an interview aired on the state channel Russia 24, presenting them as the backbone of the government’s debt management plan for the year. The numbers reflect a careful balance between financing essential public needs and managing repayment obligations, signaling a disciplined approach to public finances that aims to maintain fiscal stability in a volatile global environment.
In reiterating the plan, Siluanov stressed that the borrowing targets are highly feasible given the current macroeconomic environment and the government’s good access to domestic markets. He explained that the strategy emphasizes domestic issuance rather than seeking new debt in overseas markets this year, with the aim of preserving favorable terms and supporting liquidity within Russia’s own financial system. This stance aligns with a broader policy to reduce exposure to foreign funding channels while keeping borrowing costs controlled and predictable for the budget cycle ahead.
Siluanov also addressed the regime for foreign investors and business transfers, noting that the tax on the sale of a business within Russia remains set at 10 percent of the transaction value. He pointed out that the state is intent on creating conditions that encourage foreign firms to maintain a presence in Russia rather than liquidate their local assets. At the same time, he affirmed that a wide array of incentive measures designed to support doing business, including for foreign participants, would continue to be available. These signals are intended to reassure international investors and partners that Russia remains open to business activity under a stable fiscal framework, even as it maintains certain regulatory controls during a transitional period. (Credit: Russia 24 interview)