Penza, 25 January 2018. PenzaNews. The head of the Penza administration Victor Kuvaytsev thinks that the situation with accounts payable of the municipality is complicated.

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"The situation is complicated. This is a good lesson for all of us. Governor Ivan Alexandrovich Belozertsev promised to continue to help us. However, the city faces tasks of implementing federal programmes, road maintenance, lighting, and so on. For this reason we should work intensively not only on debt retirement but also on filling the budget and optimization of costs and look for new sources of income," he said during the meeting that was held in the mayor's office on Thursday, January 25.

Informing participants of the meeting about the state of affairs, the head of the Penza financial department Olga Zavyalkina reported that over the last years the city budget had been characterized by an outstripping growth of expenditures over income, which had led to an increase of accounts payable over the last 5 years up to 628 million roubles by January 1.

According to her, during the year it became possible to repay the accounts payable in the amount of 500 million roubles including 350 million roubles by attracting commercial credits.

Olga Zavyalkina added that restructuring of debts to the Penza region budget, which allowed the municipality to loan up, contributed to a significant reduction in the accounts payable, the press service of the city administration reports.