The Russian defense industry compared with the exercise bike

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Yuri Borisovata: Alexei Nikolsky / RIA Novosti

The Russian military-industrial complex (MIC) spending too much funds for payment of loans to banks in the performance of the state defense order. In an interview with RBC said Deputy Prime Minister Yuri Borisov, who oversees the government industry.

“The debt load of the sector is very significant. It originated not in one year, because the rate of credit funds was 10, 11, 12 percent. Now the defence sector as the bike pedals twist, and not go. Because the funds that have to pay the banks, enormous,” — said Borisov.

According to him, defence enterprises should restructure its debt on more favorable terms. In this case, the state will spend on financing contracts less budget.

In the future the it will be the reference Bank for the defense industry, whose role will be fulfilled by the PSB. Banks serving of the current loans of the MIC, give him their assets.

Video, photo All from Russia.

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