OREANDA-NEWS According to the results of the first nine months of 2023, the state debt of Russian regions increased by 12.8 percent (356.5 billion rubles), to 3.145 trillion rubles, and municipal debt — by 2.6 percent, to 385.9 billion rubles. This is reported by RIA Novosti with reference to data from the Ministry of Finance and the Federal Treasury.

Debts increased in 74 subjects of the federation, decreased in ten, and the amount of debt in Mordovia remained at the same level as a year ago. Moscow and the Moscow Region accounted for more than a third of the increase in debt.

In total, the state debt of the regions and municipal debt increased by 11.6 percent compared to the beginning of the year. The share of budget loans in the debt structure has reached 76 percent, but there are almost no bank loans left — only two percent. The share of government securities also decreased to 19 percent, although at the beginning of the year the indicator was equal to 23 percent.

Earlier, the agency estimated that by the end of the second quarter of 2023, the level of external debt in relation to GDP in Russia fell below 15 percent for the first time in history. This dynamic is associated with the repayment of current debt and the impossibility of new borrowings due to sanctions. Back in 2020, the indicator was more than twice as high.