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Russian Debt May Deplete Space Funds By Space News Staff
posted: 04:51 pm ET 05 March 2001
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Russias Debt May Deplete Space Fund WASHINGTON -- Russias foreign debt obligations could take a significant chunk out of the funding allocated this year to the nations space programs, including the International Space Station, Russian government officials said. Russias space budget for 2001 is about 7.7 billion rubles ($268 million). That sum includes about 1.1 billion rubles ($38.4 million) in funding that government budget officials assume will be available based on tax revenues anticipated from price increases on exported goods, such as oil. However, the Russian parliament is considering legislation that would apply these so-called additional revenues toward debt payments to the Paris Club, a group of wealthy creditor nations, said Yuri Koptev, director general of the Russian Aviation and Space Agency (Rosaviacosmos). Of the additional revenues allocated to space, 500 million rubles ($17.4 million) are earmarked for Russian participation in the International Space Station program and 600 million rubles ($20.9 million) are assigned to replenishment of Russias Glonass satellite navigation fleet, Koptev said. Koptev warned that diverting that money to debt payments will undermine Rosaviacosmos efforts to meet its space station obligations.Russia has pledged to launch eight Progress cargo ships and Soyuz TM capsules to the station this year. Also to be launched this year is the Russian-built space station docking port and airlock called docking compartment 1, Koptev said.
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