The repetition of 1998 or the only step to salvation?

Foreign Exchange Market Finansy10-02-2009 Repetition of 1998 or the only step to salvation? Blurred deadlines crisis makes officials think about new sources cover the budget deficit. If the crisis drags on for a long time, the previously accumulated state reserves may not be enough at all. In these circumstances, the authorities are considering the possibility of issuing bonds for several hundreds of billions of rubles, some of them may be denominated in U.S. dollars. State reserves of Russia continue to melt, and sources to cover the budget "hole" is getting smaller. Last week, presidential aide Arkady Dvorkovich said that Russia's budget deficit this year is not less than 6,1% of gross domestic product (GDP), and may exceed this figure. Gave similar estimates, and Deputy Prime Minister and Finance Minister Alexei Kudrin. Adding to these problems and more vague terms of the crisis, officials seriously pondered over the possibility of borrowing to cover budget deficits, in particular through the issuance of government bonds.