May 21, 2018 / 11:14 AM / a month ago

Russia's sovereign wealth fund to propose increasing state debt

MOSCOW, May 21 (Reuters) - Russia’s sovereign wealth fund plans to propose that government increases its domestic debt to finance infrastructure projects, the Russian Direct Investment Fund (RDIF) head Kirill Dmitriev told reporters on Monday.

Russia has relatively low state debt and increasing it could help to meet President Vladimir Putin’s policy goals, Dmitriev told a conference call.

Russia will need to spend at least 8 trillion roubles ($128.7 billion) over the next six years to meet economic goals set in new decrees that Putin signed after being sworn into the presidency at the start of May. ($1 = 62.1801 roubles) (Reporting by Polina Devitt Writing by Katya Golubkova Editing by Matthew Mpoke Bigg)

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