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Russia plans to borrow 300bn roubles
Muhammad Iqbal
01 Apr, 2013
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![](https://i.brecorder.com/images/2013/04/roubles-400.jpg">MOSCOW: Russia's Finance Ministry said it plans to borrow 300 billion roubles in OFZ treasury bonds between April and June, focusing more on bonds maturing in up to seven years that could narrow the gap between short-term and long-term borrowing costs.</P><P>Narrowing that gap could potentially enable the finance ministry to offer smaller premiums on longer-dated debt.</P><P>In the first three months of the year, Russia fell far short of its funding target for treasury bonds, placing around 180 billion roubles of the 306 billion it had targeted for the quarter.</P><P>A prolonged failure to borrow domestically may pose problems for covering Russia's budget deficit, expected this year at around 0.8 percent of gross domestic product.</P><P>For April-June, more than half of the maximum supply is to be made up of paper maturing in seven years or less.</P><P>)