Aug 22, 2020
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What does Russia have more – debts or reserves?

“Yes, one of the business media has compared the national debt and government reserves. But in this case, reserves mean only cash balances that ministries and departments keep on deposits in banks. They are much less than all the currency and gold resources of the state. Therefore, nothing threatens the financial stability of the country and the implementation of the budget expenditures plan, "he clarified Head of the Laboratory for Analysis of Institutions and Financial Markets, RANEPA Alexander Abramov... The structure of the state debt includes money borrowed by the Ministry of Finance in the domestic and foreign financial markets, and state guarantees assumed by the Russian government. As of July 1, 2020, this debt was equal to $ 210 billion. For comparison, the gold and foreign exchange reserves of the Bank of Russia amounted to $ 570 billion on the same day. And since mid-March, they even increased.

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