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15.06.2015
contained by limited substitution of external sources of funding with domestic ones given shallow Russian financial market and high ruble debt burden. Implementation of government
Review Quarter 3, 2014
KEY EVENTS IN THE MONEY MARKET
Sanctions and external reactions
Sectoral sanctions were imposed against a number of Russia’s largest
803
20.06.2014
lending to non-financial organisations and averaged 14.8%. The growth of overdue debts on loans slowed down from 4.6% to 4.2%. In January-May
It is expected that residents will expand
2013-2015 (billions of US dollars) external borrowing amid the persisting positive
The general government and the central spread
and external position. As a result, banks stepped up their demand for Bank of Russia repo
funding (Chart 1.1). Starting from May, the debt
of the principal amount of debt.
BULLETIN OF BANKING STATISTICS № 4 (59)
Note. The sections on the internal and external financing of the federal budget
credits (including outstanding debt), outstanding
claims on Russian enterprises, organizations and interest on credits extended to nonfinancial gov-
households, and the external world, on the
and external demand for Russian products and
points over the same month of 1998. Accordingly, increased economic efficiency in production im
growth in debt on
2004 they grew by $400 million). Foreign direct
ation, along with positive external conditions, investment stood at $12.6 billion.
allowed Russia to pay ahead
of oil averages at $59.5 per barrel in
The economy’s external obligations rose
2009, the current account surplus may stand
by $14.3