Russia's national debt to grow finance minister

State borrowing is expected to reach 18% of GDP by 2027

Russia's state debt is expected to grow marginally and reach 18% of gross domestic product (GDP) as the government continues to borrow funds to plug a budget gap, the finance ministry said on Tuesday.

According to the draft budget, state borrowing will amount to 4.8 trillion rubles ($51.5 billion) next year, 5.1 trillion ($54.9 billion