Finance Ministry reports Russia's foreign and internal debts

Of 41 percent of the GDP, which is the Russian state debt, internal debt accounts for 8 percent and external debt - for 33 percent, according to the data reported today by Senior Deputy Finance Minister Alexey Ulyukayev at a round-table meeting "The Support of Russian Exports and Foreign Investments". In absolute terms, Russia's debt to foreign creditors is around $100bn. The volume of the state debt traded in Russia is RUR260bn (around $8.176bn). Ulyukayev was quoted as saying the Russian government will pursue a policy of the gradual replacement of foreign debt with internal debt. "In 2003 we are planning to increase it up to RUR350bn (around $11bn)", the Finance Ministry official said.