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. Last Updated: 07/27/2016

Bank Credits Shoot Up

MOSCOW (MT) - The Central Bank will increase credit emissions by 6 trillion rubles in the fourth quarter of this year, largely to cover a 5. 5-trillion-ruble budget deficit, bank chairman Viktor Gerashchenko said Tuesday.

According to the Russian Information Agency, Gerashchenko said that the Russian government had previously told the International Monetary Fund that it would increase fourth-quarter credits by only 4 trillion rubles. But even an increase of six trillion would not cover the country's needs, he said.