Siluanov: I am sure that we will fulfill our three-year borrowing plans; we are negotiating with banks

MOSCOW. Sept 30 (Interfax) - The Russian Finance Ministry will fulfill its plans for borrowing on the domestic market for the next three years, and the ministry is discussing these plans with banks, Finance Minister Anton Siluanov said during an interview with Rossiya 24 TV channel.

"We are currently negotiating with banks and with financial institutions regarding the possibilities and capacity of the financial market. The plans that we have outlined - and this is about two to three trillion rubles of gross borrowings annually - I am sure that we will fulfill them," Siluanov said during the interview.

According to the bill on the federal budget, the gross volume of domestic borrowings next year should be 2.5 trillion rubles. Siluanov previously noted that the government in 2023 would be granted the right to assume additional borrowings of up to one trillion rubles in order to replace the funds used from the National Welfare Fund (NWF) during favorable market conditions. The Finance Ministry intends to initiate borrowing on the domestic market, and the upper limit of government debt is to be adjusted in order to minimize using NWF funds, Siluanov explained.