Finance Minister proposes restructuring 75 bln rbl debt of regions

MOSCOW, Sep 26 (PRIME) -- The Finance Ministry has suggested 75 billion rubles of Russian regions’ debt to the federal budget should be restructured if the funds are spent on development of infrastructure, Minister Anton Siluanov told the State Duma, the parliament’s lower house, on Thursday.

“We are preparing proposals to ease the debt burden (of regions) to the Russian Federation. Next year, the regions are to redeem 75 billion rubles of budget debts. We have a proposal. Let’s consider restructuring of the debt on condition that the funds are invested in development, new infrastructure projects, implemented in the regions,” he said.

“It is important that the debt decreases. The measures we took have resulted in a 5% contraction of the debt (in 2018) as compared with the previous year,” Siluanov added.

(64.1873 rubles – U.S. $1)

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