OREANDA-NEWS. The Ministry of Finance of Russia announced a possible reduction in the planned need for borrowing due to high volatility in the financial market.

This was reported on the website of the agency. “Decisions on holding auctions on the placement of OFZ (federal loan bonds. – Ed.) will be made taking into account market conditions,” the statement reads. The Ministry explained that it is necessary to stabilize the market situation and eliminate excessive pressure on the debt market. It is specified that the funds in a single account of the federal budget and other sources can compensate for the reduction in borrowings below the planned figures.

On March 9, the price of Brent oil reduced by more than 27 %, to 32 US dollars per barrel, the price of WTI oil fell below 30 dollars per barrel. The dollar exchange rate exceeded 75 roubles. the euro rose to 85 roubles. After the collapse of oil prices, the Ministry of Finance announced the sale of currency in order to compensate for the lost state revenue.