Translated material
Russia plans to create a special fund to finance infrastructure
In 2019, Russia plans to create a special fund to finance infrastructure, First Deputy Prime Minister and Finance Minister Anton Siluanov said.
According to Vedomosti , the fund will be formed by attracting market loans from the Ministry of Finance.
“This money is not opportunistic income, not income from oil and gas. This is the money that we plan to receive from raising debt financing. We can attract money from the market and direct it to investments that will create additional state assets for us that will work for the economy,” the minister said at the St. Petersburg International Economic Forum.
Accounts Chamber Chairman Alexei Kudrin supported the creation of a new infrastructure fund. According to him, Russia can afford to increase its public debt by 5-7% of GDP in six years. At the same time, Siluanov noted that it would not be necessary to increase the public debt.
The government intends to launch active construction of roads, hospitals, schools, kindergartens and universities in the next six years, improve the quality of the urban environment and waste management, and increase the capacity of seaports.
Read the best texts of The New Times and breaking news Telegram in