Russias government is easing the debt burden of defense companies, jettisoning the 2016 deficit target as the nations relations deteriorate with the U.S. and its allies.
The government will increase expenditures in this years so-called black budget, the portion of the spending plan thats authorized but not itemized and typically covers security, by 800 billion rubles ($12.7 billion), Finance Minister Anton Siluanov told lawmakers in Moscow on Monday. The move will help pay back state-guaranteed loans for Russian defense contractors and create an opportunity for them to take on extra debt next year, he said.
We see an opportunity to repay loans taken by the companies, to relieve them of the debt burden and make it possible reduce debt rela…
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