Saratov oblast over five years has reduced the share of commercial loans

© RIA Novosti / Andrey to Vasiljeviene in fotobounce the city of Saratov. Archival photoSaratov oblast over five years has reduced the share of commercial loans© RIA Novosti / Andrey to Vasiljeviene the image Bank

Saratov oblast over the last two years never took a commercial loan and reduced the share of such loans in the structure of public debt to 35.9% in the current year from 83% in 2012, reported RIA Novosti on Wednesday the head of the press service of the regional Governor Nina Popova.

President Vladimir Putin on Wednesday at a meeting of the state Council demanded from the regions faster to resolve the situation with the lending when loans are taken from commercial banks at high interest rates. The President also asked the governors not to gain more debt, «scattering» resulting from the Federal budget funds, and to spend money on the improvement of the financial system.

«The government systematically carries out work on the public finances of the region. For the last two years of the Saratov region do not have any credit liabilities. For comparison, in 2012 the share of commercial loans accounted for 83%, currently at 35.9%, a reduction of more than two times,» — said the Agency interlocutor.

Popov noted that the refinancing of expensive commercial loans to budget annually saves up to 500 million rubles, and in the current year, the savings amounted to 1.2 billion rubles.

As reported on Wednesday the regional Ministry of Finance, in December, the region received a budget loan in the amount of 1.4 billion rubles, the funds were used to repay Bank loans, and additional aid from the Federal budget in similar sizes to ensure a balanced budget, which is due before the end of the year fully repaid the overdue payables for obligations of the regional budget.

«In the structure of public debt continued positive change. Agreed with credit institutions to lower interest rates on Bank borrowing by 0.6-1.7 percentage points. The issue of regional bonds are allowed to lengthen and diversify its debt portfolio,» — stated in the message.

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