The burden on the budget has been adjusted

Krasnodar, 2 November.The Krasnodar Territory has been recognized as a region with a high level of debt sustainability. The Ministry of Finance of the Russian Federation made an evaluation on 85 regions. The group with high debt sustainability includes 41 regions. Among them, the Krasnodar Territory. The Kuban had previously been placed into the group with a medium-level debt sustainability. In 2020-2021, the region achieved a significant improvement in its indicators concerning the Territory’s public debt. 

- The upgrading of the Territory’s score testifies to the effectiveness of the implemented policy aimed at limiting public debt parameters. This allowed not only to reduce the debt burden, but also to reduce the cost of its maintenance, - commented the result of the region first deputy governor Igor Galas’. 

According to the regional administration press service, debt restructuring took place this year, in order to improve the efficiency of state debt management. A 13.3 billion rubles loan was provided to the region from the federal budget in 2020. It was planned to be repaid in June 2021, however, it was extended until 2029.

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