Finance Ministry to increase domestic debts in 2004

According to the Finance Ministry's program of domestic loans in 2004, which will be considered at a government meeting on June 26, some 263bn rubles ($8.65bn) in state securities are to be attracted and some 118bn rubles ($3.88bn) in loans will be paid off, Russian Deputy Finance Minister Alexey Ulyukayev told journalists today.

In 2003 these figures are to be 169bn rubles ($5.56bn) and 112bn rubles ($3.68bn) respectively. Moreover, in 2004 the Finance Ministry is planning to issue state short-term bonds (GKO) totaling 50bn rubles ($1.64bn) and federal loan bonds (OFZ) worth 210bn rubles ($6.9bn).