STAVROPOL, September 27. /TASS/. Debt restructuring in the region on the budgetary credits will allow the Stavropol region to save on servicing the state debt of 500 million rubles annually, said on Wednesday, TASS Deputy Prime Minister and Minister of Finance of Stavropol region Larisa Kalinchenko.
Rate stabilization: what will help the Russian regions to reduce its debt burden
About starting from January 1, 2018 restructuring program accumulated budget loans to regions in 7-12 years old Russian President Vladimir Putin said on 22 September at meeting of Presidium of the state Council.
“Thanks to the government decision on the restructuring of 2018 the debts of the regions in budget loans instead of 6.2 billion rubles in Stavropol need to return to the Federal budget of 300 million roubles (0.5% of this amount). Still the same – in 2019, and the remaining 5.6 billion will be returned to the Federation in equal installments until 2024 . This will significantly reduce the pressure on the budget of the region, and will allow you to save on servicing the state debt of 500 million rubles annually,” – said Larisa Kalinchenko.
According to her, the public debt of the Stavropol territory on January 1, 2018 will amount to 38.2 billion roubles, including government bonds, commercial loans and budgetary loans in the amount of 16.6 billion rubles.
The terms of restructuring, the national debt and the budget figures
The Minister noted that this is of great importance for the balance of regional budgets will have terms of the restructuring of budgetary credits, such as the requirements to the size of the budget deficit and the volume of commercial loans in the structure of public debt.
“These conditions regions will be known in October”, – said Larisa Kalinchenko.
As previously reported by TASS, the amount of public debt of the Stavropol territory, the government first planned to reduce in 2017, at 900 million rubles. To improve the efficiency of public debt management authorities have reduced the share of commercial loans in 2016, replacing them with budget, conducted a complete replacement of short-term borrowing long-term.
Budget 7 months of 2017 have performed at 113% and has collected in excess of the planned 4 billion rubles of additional income. Almost a quarter exceeded the plan for income tax on the profit of organizations. Compared to the same period last year in the regional Treasury received 3.8 billion roubles more. Also on 28% exceeded the plan for revenue from excise duties.
The expenses of the regional budget on August 1, amounted to 48.8 billion rubles, which is 2.5 billion more than in the corresponding period last year. The total volume of a profitable part of the regional budget for 2017 is 88.5 billion rubles, the expenses approved in the amount of 92.6 billion rubles.