Russian Government Allowed Regions Pause Budget Loans Payment

The Russian government issued a decree that adjusts the schedule for regions to repay their debt on budget loans. In 2020, it was proposed to redirect these funds to the fight against COVID-19.

It is reported on the website of the cabinet of ministers that this year the regions are completely exempted from paying off debt. Provided that the released funds will be used to prevent “the impact of the deteriorating economic situation on the development of economic sectors”, to prevent and eliminate the consequences of the new coronavirus and to compensate for lower regional budget revenues. It is also noted that over the next 4 years, it will be possible to pay off the debt in installments at 5% of the amount annually, and pay the balance in 2025–2029 in equal shares.

Ru-Main, 05.05.2020

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *