Chair of USUE Department of State and Municipal Finance commented on the behavior of government debt

Rossiyskaya Gazeta, 24.01.18

Expert RA rating agency analyzed the behavior of government debt in the constituent territories of the Federation last year. The conclusions of analysts, in general, are encouraging: more than half of the regions have reduced the level of government debt in relation to their budget revenues. However, there are those who continued to increase their debts.

Evelina Peshina, chair of the USUE Department of State and Municipal Finance:

- The draft Budget Code, which was prepared by the Ministry of Finance of the Russian Federation at the end of last year, foresees the assignment of each member of the Federation to one of three groups of borrowers: with high, medium or low levels of debt sustainability. The regions included in the first group will be exempted from the need to harmonize the borrowing programs: they can be guided only by the restrictions prescribed in the Budget Code. Those who fall into the second and third groups will be required to coordinate all their actions with the Ministry of Finance of Russia and together with it, they will develop and will implement step by step the solvency restoration plan.

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Expert RA rating agency analyzed the behavior of government debt in the constituent territories of the Federation last year. The conclusions of analysts, in general, are encouraging: more than half of the regions have reduced the level of government debt in relation to their budget revenues. However, there are those who continued to increase their debts. Rossiyskaya Gazeta, 24.01.18