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Russia needs to borrow 1 trillion roubles more to cover non-oil revenue shortfall - Metro US

Russia needs to borrow 1 trillion roubles more to cover non-oil revenue shortfall

FILE PHOTO: Russian Finance Minister Siluanov delivers a speech during a session of the lower house of parliament in Moscow

MOSCOW (Reuters) – Russia will need more than 1 trillion roubles ($13.44 billion) of additional borrowing this year to cover the shortfall in non-oil and gas revenues, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Saturday.

Speaking on a state television program, the minister also said that 2 trillion roubles are expected to be directed from Russia’s National Wealth Fund to cover shortfalls in revenues that do come from the oil and gas sector.

(Reporting by Darya Korsunskaya; Writing by Polina Ivanova; Editing by Gareth Jones)

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