Russia’s builders owe debt of $30,8 billion to banks

Russia’s builders owe debt of $30,8 billion to banks
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According to the data provided by Russian Central Bank, a size of indebtedness of Russia’s construction companies to banks amounts to 2,18 trillion rubles ($30,8 billion), as of the 1st of October 2016, The Rating Agency of Construction Complex announced on Monday.

The Agency notes that 27% of this amount accounts for foreign exchange liabilities.

Experts claim that practically half of the entire credits portfolio accounts for Moscow (49,7%), the capital city of Russia is followed by the Republic of Udmurtia and Saint Petersburg (8,1% each).

A total of 1,1 trillion rubles of credit funds has been allocated to the country’s construction companies over the period of the last nine months this year. This is 14% more than this figure last year.