Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

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Mishustin: regions will be able to lend to each other

Mishustin: regions will be able to lend to each other
Photo: government.ru

Russian regions will be allowed to issue the so-called horizontal budget loans. They will be able to lend to each other for a period of three years to develop their own economy and improve the quality of life of people. This was announced at a government meeting by Prime Minister Mikhail Mishustin.

“Restrictions on the issue of debt securities by regions and municipalities that do not have the required credit rating will also be lifted. Many heads of regions asked the government about this, ”the head of the Cabinet of Ministers said.

Mikhail Mishustin said that the relevant amendments to the Budget Code have already been submitted to the State Duma of the Russian Federation. If adopted, the law will enter into force on January 1, 2021.

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