June 10, 2020 / 8:13 AM / a month ago

Russian can increase state debt due to low current levels - central bank

MOSCOW, June 10 (Reuters) - Russia has the capacity to increase state debt because its current levels are low, Central Bank Governor Elvira Nabiullina said on Wednesday.

The central bank does not see risks in having around one third of the government’s OFZ treasury bonds owned by non-residents, she said.

Nabiullina also said that Russian banks’ profits had fallen to a record low of 500 million roubles ($7.28 million) in May. ($1 = 68.6531 roubles) (Reporting by Gabrielle Tétrault-Farber; Writing by Alexander Marrow; Editing by Alison Williams)

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