Oct 13, 2020
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The Ministry of Finance expects the growth of the state debt of the regions by 300 billion rubles by the end of the year

The state debt of the regions by the end of 2020 will increase by about 300 billion rubles, said Leonid Gornin, First Deputy Minister of Finance of the Russian Federation. At the same time, in 2021, the rate of growth of the national debt should slow down.

At the end of the year, we expect an increase in the national debt by about 300 billion. Now the total amount of regional obligations is 2.15 trillion rubles, or 22.5% of the amount of their own revenues- said Gornin.

At the same time, he noted that the Budget Code allows exceeding the level of public debt and budget deficits in certain cases, for example, in the fight against coronavirus, and some governors are generally ready to build up public debt. write "Notifications".

However, despite the relatively stable financial position, it is necessary to take a responsible approach to debt policy. It would be absolutely wrong to cross out with one decision the long-term achievement of a low level of debt - 22% on average for the subjects of their own incomes., - said the representative of the Ministry of Finance.

As wrote earlier, Russia's public debt in 2021 will cross the mark of 20% of GDP, and in 2023 it will grow to 21.3% of GDP. Such data are indicated in the explanatory note to the draft federal budget for 2021 and the planning period of 2022 and 2023.

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