The debt burden on the regions needs to be reduced, said in the state Duma

© RIA Novosti / Maxim to Aminopherase in photobacteria at the plenary session of the State Duma of the Russian Federation. 29 September 2017The debt burden on the regions needs to be reduced, said in the state Duma© RIA Novosti / Maxim to Aminopherase the image Bank

The debt burden on the subjects of the Russian Federation should be reduced, said the first Deputy Chairman of the Duma Committee on budget and taxes Alexander Remezkov.

Issues relating to the reducing the debt burden on regional budgets will be discussed during consideration in the state Duma the draft Federal budget for 2018 to 2020 made by the government, the MP noted. In particular, according to him, will discuss measures of restructuring of budget loans to regions and decide what to do with the debts of subjects of the Russian Federation on commercial loans.

The MP reminded that to run from 1 January 2018 restructuring program accumulated by the regions with budget loans, said Russian President Vladimir Putin. The program lasts a minimum of seven years and may be renewed for up to five years. During the first two years the regions will be entitled to pay 5% of the debt per year, and those who will ensure the growth of the tax base at the level not lower than inflation, can prolong its action for up to 12 years. This will allow them and in 2020 to pay 5% duty and then 10% each year until the program is completed, the MP noted.

According to the calculations, in contrast to the current timetable for the repayment of budget loans, we offer a program of restructuring the accumulated fiscal credit mechanism will allow the subjects of the Russian Federation in 2018 or 2019 release 428 billion rubles.

«If you talk about specific regions, the Krasnodar territory is 10.7 billion rubles for two years. For the Kurgan region, this figure will amount to 1,381 billion rubles for two years, of which 1,141 billion in 2018. These funds will be able to direct the solution of their pressing problems, including in fulfilment of its social obligations», — said Remezkov.

He also said that the President instructed the government of the Russian Federation until the end of 2017 to consider and propose effective measures in reducing the debts of the regions on commercial loans to banks and in respect of overdue payables of budgetary institutions. «Because we have really huge debts at hospitals, schools sometimes have clinics. And that accounts payable, in the end, the stone lies at the feet of regions», — noted the first Deputy Chairman of the budget Committee.

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