Level of state debt of Penza region planned to be reduced to 37%
Penza, 26 August 2019. PenzaNews. By 2025 it is planned to reduce the level of the state debt of the Penza region to 37% of the regional budget revenues without taking into account non-repayable receipts, while the commercial debt will be reduced to 33%. This was reported by the press service of the regional Ministry of Finance.
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According to the ministry's data, today the level of the region's public debt is 56.5%, which is 30.3 percentage points less than that at the beginning of 2015 when it was 86.8%.
A positive trend in the management of the state debt of the Penza region started several years ago: as of January 1, 2015, the debt amounted to 21.3 billion roubles, as of August 1, 2019 – 20.2 billion roubles.
The reduction in the volume of debt reached 1.1 billion roubles due to the decrease in debt to commercial banks - from 11.8 to 10.7 billion roubles. All payments for repayment and servicing of debt obligations were made in due time. There were no cases of untimely fulfilment of obligations to creditors.
According to the results of the analysis conducted by the Russian Ministry of Finance, the Penza region has had a high level of debt management over the past three years, which was also confirmed by the credit rating at the level of BBB + (ru) with a stable outlook assigned to the region by the agency ACRA in 2018.