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RBC: Russia has become a net debtor

Net public debt of Russia again exceeded liquid reserves, reaching as at 1 July of 1.55 trillion rubles, according to RBC with reference to the statistical data of the Central Bank and the Ministry of Finance.

Net debt implies that the government assets do not cover the amount owed.

According to the newspaper, the duty of the Federal government on 1 July amounted to 14.77 trillion rubles, and liquid reserves — 13,22 trillion rubles.

This situation, according to RBC, there was due to the purchase by the government in April 2020 a controlling stake in Sberbank from the Central Bank for of 2.14 trillion rubles from the funds of the national welfare Fund (NWF). Other factors were the crisis caused by the pandemic coronavirus, and the drop in oil prices.

The advent of the net debt does not bear a significant threat to the economic system, however, is a significant event as a result of the economic crisis, says RBC.

Earlier, Prime Minister Mikhail Mishustin said that Russia by the beginning of 2020 there were good preconditions for a breakthrough, but a combination of factors such as novel coronavirus infection and a precipitous decline in oil prices has significantly complicated the situation and demanded an urgent and massive measures.