In 8-10 Years Russia May Pay Off All of Its External Debt

In the next 8-10 years Russia may pay off all of its external debt, Russian Presidential Economic Adviser Andrei Illarionov has concluded.

According to him, it will be the case only if today's economic and debt policies are carried out in the future.

Speaking on Tuesday at a press conference in Moscow Illarionov noted that over the past four years the Government had been carrying out a sensible budget policy ensuring the budget's surplus. Thus, Russia was able to meet its external debt commitments, the Presidential Economic Adviser added.

He reported that Russia's external debt had dropped from $157 billion on January 1st, 1999, to about $110 billion on January 1st, 2003.