Storchak told about the plan for internal borrowing in 2016

Storchak told about the plan for internal borrowing in 2016

Plan on 800 billion rubles of optimal borrowing, said Deputy Finance Minister Sergei Storchak. The excess of this ceiling, he said, is possible only in conditions of dire need.

MOSCOW, 22 Jan. Planned for 2016 internal borrowing can only be exceeded under conditions of acute need, told reporters Deputy Finance Minister Sergei Storchak.

“That plan, which was announced for 2016, which is slightly more than 800 billion rubles of borrowings, in our view, is optimal. And we are only at the moment of acute need, and decisions of the government will go on further increase, the excess of this ceiling,” he said.

In connection with the “fragile security situation” in the market and in the economy, the Deputy Minister is not sure that, “this year, we can plus something else to take, no giving extra-large bonuses, and maybe not even giving premiums to investors.” “But we have to think forward,” added Storchak, Recalling that debt policy is based on the assumption that the government was forced to go on the annual budget.

“Debt or debt policy still is based on the horizon. As the yield curve is based on a large horizon, and these things should be planned. Today, taking more than the normal market allows due to the fact that the specific investors in specific time given the award, later this will backfire on the other hand,” — said Storchak.