Nizhny Novgorod region reduced public debt by 30%

The volume of the public debt of the Nizhny Novgorod region as of September 1, 2021 amounted to 65.9 billion rubles, the Ministry of Finance of the region reported.

The department explained that the volume of public debt since the beginning of the year has decreased by 19.6 billion rubles. or by 22.9%. In the structure of debt as of September 1, 56.3% were state securities, 43.5% - budget loans received from the federal budget, 0.2% - state guarantees. There are no commercial bank loans.

Recall that in July the Nizhny Novgorod Region signed an agreement with the Ministry of Finance of the Russian Federation on the restructuring of a budget loan in the amount of 9.7 billion rubles until 2029.

The Minister of Finance of the region, Olga Sulima, then explained that this loan was provided to the budget of the Nizhny Novgorod Region in December last year at 0.1% per annum with a maturity date of July 1, 2021. President Vladimir Putin , in his address to the Federal Assembly, announced the restructuring of budget loans taken by the regions last year to cover the costs associated with the covid-19 pandemic until 2029.