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In 2020, the regions are completely exempt from repayment of the debt in the years 2021-2024 will pay for 5% of the debt, in the years 2025-2029 will pay the remainder in equal installments (initially, the restructuring program launched by the Ministry of Finance in 2017, it was assumed that in 2020, the regions will repay 10%, and in the years 2021-2024 will repay 20%).

the evaluation of an ACRE, thanks to this decision of the government of subjects of the Russian Federation in 2020 will release about 70 billion in 2021 – about 110 billion (the regions will have to pay about 30 billion rubles instead of 140).

According to the Agency the NKR regions save more: $ 230 billion roubles in two years, or about 11% of the total debt. At the end of the first quarter budget loans amounted to 993 billion (48% of the total debt of the regions in the amount of two trillion rubles), according to the plan the regions had to repay in 2020 for 88.7 billion, and in 2021 – about 200 billion, says group managing Director of the ratings of the authorities of the NKR Andrey Piskunov. The new schedule involves a moratorium on payments this year, and in 2021 the payment will be about 50 billion rubles.

“of Course, released in the 2020-2021 year, funds can be called “free,” only conditionally, – the analyst of a regional group of ratings of an ACRE Ilya Tsypkin. – The money will go to the restoration of the economies of these regions will either allow you to reduce costs budgets in these years.”

it is possible that the failure of the government requirements for the budgetary credits in 2020 will not be enough to fill the drop down due to the restrictions imposed, the tax revenues of regional budgets, says Andrei Piskunov.

the Greatest value of the measure can have for the regions where a high proportion of budget loans relative to its income, says Ilya Tsypkin. Here are the absolute leaders of Mordovia (109,3% by the end of 2019), followed by a large margin, followed by Republic, Ingushetia, Chukotka, and North Ossetia (from 60,3 to 62.6%). Assuming the absolute volume of given budgetary credits, the most money to restore the economy be freed from Tatarstan (which is the amount of budget credits at the end of 2019 amounted to 84,3 billion rubles), Krasnodar region (58,8 billion), Kaluga region (27 billion), Mordovia (26.4 billion) and Saratov region (24.7 billion roubles). In both lists there are Mordovia, for her this decision is very important, given its debt load.

the Mordovia Republic, along with traditional record level of over-indebtedness: the first duty ratio, tax and non-tax revenue is 211%, in Khakassia – 98%, says Andrei Piskunov. Among other major beneficiaries of the government’s decision he calls Kabardino-Balkaria (which debt is 67% of its income, and the Dol�� budget loans account for 69% of the debt), Kostroma oblast (90% and 62%, respectively), Kirov oblast (72% and 62%), Karachay-Cherkessia (80% and 59%), Smolensk region (88% and 57%), Jewish Autonomous oblast (85% and 50%), Mari El (70% and 44%), Udmurtia (80% and 42%) and Kalmykia (79% and 40%).

Earlier, the government also decided to allocate to subjects of the Russian Federation an additional 200 billion rubles this year. The effect of this will be visible if it will be provided promptly, says Ilya Tsypkin. Not less important he considers the decision of the Ministry of Finance to release the subjects of the Russian Federation from liability for exceeding the limits on the volume of deficit, debt and the share of commercial debt in total borrowing (but only to the amount of funds that aims to combat the coronavirus and the deterioration of the economic situation, as well as in the amount of the shortfall in own revenues).

the law Also allowed the provision of interregional budgetary credits. But in the crisis year, this measure will not enjoy great popularity, because it is not completely clarified the mechanism and conditions for their provision, in addition, not all regions have the available funds to provide such loans, and in some regions all the accumulated funds allocated for financing the budget deficit, says Ilya Tsypkin.