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Regions in Russia for a year exempted from payments on loans
In 2020, the Russian regions were completely exempted from paying off debt on budget loans. The decision was signed by Prime Minister Mikhail Mishustin.
Measures have been taken to support the regions. As noted in the document, in 2021–2024 they will pay 5% of the debt annually, in 2025–2029 they will have to return the balance in equal parts, and there will be a possibility of early repayment.
The regional authorities will be able to direct the money that will be released this year to eliminate the consequences of the spread of coronavirus infection and to compensate for the reduction in tax and non-tax revenues. The Russian government believes that this will help ensure the sustainability of regional budgets.