The state Duma published the draft cost of servicing the national debt of the Russian Federation

MOSCOW, 24 Oct. The cost of servicing the state debt of the Russian Federation in 2016 reached 645,8 billion rubles, or 0.8% of GDP, according to the draft Federal budget for 2016.

“The share in the total expenditures of the Federal budget compared to 2015 (to 3.8%) increase to about 4%,” — said in the explanatory note to the draft budget published on the website of the state Duma.

In 2016, according to the draft budgetary allocations for the maintenance of Russia’s national debt compared to 2015 year will increase by 60,538 billion rubles due to increase in borrowings and a projected further weakening of the ruble.

Expenditures for servicing the state internal debt of the Russian Federation in 2016 compared to the level in 2015 will increase by 54,278 billion roubles to 481,962 billion. The cost of servicing external debt will grow compared with the level in 2015 6,259 billion RUB 163,875 billion rubles ($2.6 billion).

Total income for the state borrowings of the Russian Federation in 2016 will be, according to the draft budget, 393,2 billion rubles, while the volume of state debt of the Russian Federation will rise by the end of 2016 to 12,318 trillion rubles.