Russia says China repays $624.3 million of 1992 loan

By: | Published: June 29, 2016 7:31 PM

The Russian finance ministry said on Wednesday that China had repaid $624.3 million of a 1992 loan.

The money is necessary for covering Russia's budget deficit, the ministry said in a statement. (Reuters)The money is necessary for covering Russia’s budget deficit, the ministry said in a statement. (Reuters)

The Russian finance ministry said on Wednesday that China had repaid $624.3 million of a 1992 loan.

The money is necessary for covering Russia’s budget deficit, the ministry said in a statement.

Also Read: Russian defence minister sacks Baltic Fleet command -Media

“Government domestic borrowing could be reduced by that sum or spending from the Reserve Fund could be smaller,” the ministry said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition