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Penza region 64th in regional debt load rating

10:50 | 04.03.2015 | Economy

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Penza, 4 March 2015. PenzaNews. The Penza region was placed 64th in the Russian regions debt load rating based on the 2014 results.

The regions were weighed by the experts of “RIA Rating” agency using debt load information provided by the Federal Treasury and the Russian Ministry of Finance.

The debt load was measured as a ration of state debt of the federal subject on January 1, 2015, to its tax and non-tax income which constitute its income without donations.

Based on the available information, the state debt of the Penza region has reached 21,331,389,000 rubles as of January 1, 2015.

The ratio of January 1, 2015 state debt to 2014 tax and non-tax regional budget income was calculated at 86.8%.

According to available figures, the 2013 level was set at 88.5%.

The January 1, 2015 state and municipal debt of the Penza region was calculated as 20,041 rubles per citizen.

According to rating commentary, the debts of the Russian regions continue growing amidst poor economy situation and social obligations, but slower than a year ago.

Based on figures of the Russian Ministry of Finance, the overall state debt amount of all federal subjects grew by 20%, reaching 2,089 trillion rubles on January 1, 2015, 352 million rubles more than in the previous year.

For comparison, 2013 shown the state debt growth of 28.6%; however, the years before were not as dramatic, with only +15.6% in 2012 and +7% in 2011.

According to analysts, the summary state debt of the regions declined in the first half of the year, and began growing only in autumn, growing the most in December 2014.

The debt structure has changed in the second half of the year. While the government stock comprised 25% of the summary state debt in by summer, it decreased to 21% by the ed of the year, while loans became more prominent: company loans percentage grew from 38% to 43%, while budget credits increased from 29% to 31%. Government guarantees waned from 7% to 5%.

The state debt increased while incomes of Russian regions grew: only five of them saw their tax and non-tax incomes fall. The summary volume of such incomes of all Russian subjects in 2014 grew by 12%.

The state debt to tax and non-tax income ratio on January 1, 2015, in the country was calculated at 35.4%, which is higher than 33% in 2013. The spread was very great: from 0% in the Nenetsky autonomous region and the Sakhalin region, to 144.4% in the Chukotsky autonomous region.
 

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