Russia's gold, fx reserves exceed foreign debt

- Central Banking staff
- 03 Nov 2005

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The Central Bank of Russia's gold and foreign currency reserves considerably exceed the state foreign debt and total more than $150 billion, President Vladimir Putin has said.

"Russia has not only reached the ratio of foreign debt to GDP of European countries with developed economies but also surpasses some of them," Putin told leading Dutch businessmen.

Putin said that domestic demand was increasing annually, which meant growth in real incomes of the population and the volumes of consumer credits

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