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The upper limit of the Russian Federation's state debt is planned to be $109.4 billion as of January 1, 2006,
The upper limit of the Russian Federation's state debt is planned to be $109.4 billion (79.7 billion euros) as of January 1, 2006, says the 2005 draft budget submitted by the Finance Ministry to the government. Moreover, the state debt of foreign states (excluding the CIS) to Russia is set at $82.4 billion. The upper debt limit for the CIS countries is $3.2 billion. The upper limit of the state internal debt on liabilities of the Russian Federation is set at 995.8 billion rubles (over $30.5 billion), as of January 1, 2006. These figures are cited in the draft federal budget for 2005. "The government of the Russian Federation is entitled to set the volume of issue, forms and methods of emission of state securities which are the liabilities of the Russian Federation and carry out their emission in 2005, in order not to exceed the upper limit", the document reads. One billion rubles will go in 2005 to cover expenses in settling state debts on commodity obligations, the draft budget says.
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