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Ministry of Finance of Khabarovsk Territory intends to borrow another 4 billion rubles from banks - EastRussia | Far East

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The Ministry of Finance of the Khabarovsk Territory intends to borrow another 4 billion rubles from banks

The Ministry of Finance of the Khabarovsk Territory intends to borrow another 4 billion rubles from banks
Photo: pixabay.com

The Ministry of the Khabarovsk Territory has submitted applications for electronic auctions to attract four credit lines with a limit of one billion each. Money is attracted to finance the deficit of the regional budget.

According to the portal government procurement, in each of the four applications, credit resources are provided by the lender in the amount of one billion rubles by opening a non-revolving credit line with a free withdrawal schedule. Loan term: within 180 days from the date of conclusion of the contract. Each tranche is issued for a period not exceeding 730 days from the date of its provision. The interest on the use of a loan totaling four billion rubles at current bank rates will amount to more than 200 million rubles.

Despite the assurances of the authorities of the region to reduce the growth in borrowing, it seems that new loans cannot be avoided. The leadership of the region back in December last year announced that it would reduce the growth of borrowings, stop taking large amounts of loans and increase profitability, however, in March it was announced that auctions for the provision of immediately seven credit lines with a limit of one billion rubles each.

According to the Ministry of Finance of Russia, the total public debt of 11 of the subjects of the Far Eastern Federal District on 1 of July 2019 of the year is 212,4 billion rubles, the public debt of the Khabarovsk Territory for this date is 52, 09 billion rubles.