June 6, 2017 – Fort Russ News –
Russia’s budget will miss out on $1 billion this year, due to the outstanding debt of a ‘secret’ foreign borrower/s.
The federal budget this year will not receive the 53.9 billion rubles ($950 million) in connection with payments from foreign debtor/s being made in arrears.
In addition to the principal repayment, the Finance Ministry has not received any interest payments in the amount of 11.7 billion rubles ($200 million). But what is the country that is behind in schedule? This is a ‘state secret’.
Deputy Finance Minister, Sergei Storchak, has stated that “we cannot name this country – government loan programs are classified, especially where loans are granted for military-technical cooperation,” – Storchak said.
Among the “suspects” are Cuba, Venezuela and Belarus.
According to the Central Bank, as of January 1, foreign states and foreign legal entities owe Russia $35.6 billion. More than 90% of this is debt to Russia on loans granted to the former USSR.
In 2016, foreign borrowers repaid the Russian budget around 92.6 billion rubles; among the contributors were Albania, Georgia, Moldova, Nepal, Serbia, Vietnam, Montenegro.