Peak of Russian state debt payments in 2003 will pose no problem

The problem of peak payments on Russia's state debt next year will be overcome, said Deputy Prime Minister and Finance Minister Alexei Kudrin.

Speaking Wednesday in the lower parliamentary house, where the 2003 draft budget is being debated, the vice premier said that Russia was to pay off 17.2 bln dollars of its state debt, including 10.8 bln in the repayment of the debt's main part.

According to Kudrin, the funds for the debt payment will be provided by the federal financial reserve formed by the government and the sales of state shares in the LUKoil and Slavneft oil companies.

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