Russia Domestic Borrowing Increased Fastest Last Year Since 1996

Russia’s outstanding domestic debt rose in 2011 at the fastest pace in 15 years, according to data published by the Finance Ministry on its website today.

Russia’s domestic debt expanded 42.5 percent to 4.19 trillion rubles ($139.8 billion) as of Jan. 1, up from last year’s 40.4 percent advance to 2.94 trillion rubles, the data showed. Last year’s increase was the fastest since 1996, when the government’s total outstanding debt jumped 94 percent to 364.5 billion rubles, the Moscow-based ministry said.

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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