Apr 3, 2021
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The Ministry of Finance by April 7 will prepare proposals to support the regions

The Ministry of Finance must submit proposals to support the regions to the government by April 7. This is stated in the list of decisions following the Cabinet meeting.

In particular, the department will prepare proposals for replacing the market debt of the regions with budget loans. In addition, proposals will be presented on restructuring the obligations (debts) of the constituent entities of the Russian Federation on budget loans provided by the Ministry of Finance of Russia in December 2020.

Until April 15, the ministry should also work out proposals for the creation of new financial instruments to provide loans to regions in 2022-2024.

Recall that at the end of March, President Vladimir Putin instructed the government to determine the parameters of additional financial support for the regions for this year by mid-April. The President noted that he would take these parameters into account when preparing a message to the Federal Assembly. In addition, the head of the Russian Federation instructed to prepare specific proposals for restructuring commercial debt and launching a regional infrastructure development program.

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