Regions’ Debt Burden: Awaiting Budget Loans
Russian Economic Developments. Moscow, 2016, #2, pp. 41-44
4 Pages Posted: 21 Feb 2016 Last revised: 10 Apr 2017
Date Written: February 20, 2016
Over 11 months of 2015, regional debt growth came to nearly 5% against the turn of the year. Municipal debt growth during the same period constituted 1.5%. By the period-end for the entire year, the debt volume will increase further. However, growth rates, most likely, will slow down compared to 2014. By the end of 11 months, the budget loans share went up by 7.3 p.p. to 38.3% with simultaneous decline of the commercial loans share by 5.6 p.p. and state bonds by 1.4 p.p. in the debt structure. However, the situation significantly differs in various regions: there are regions with public debt growth due to mainly commercial loans with already high level of accumulated debt.
Keywords: Russian economy, regional debt, fiscal policy, inter-budget transfers
JEL Classification: E60, E61, E64, E62
Suggested Citation: Suggested Citation