Government writes off part of the budget loan debt owed by Arctic and FEFD regions

© RIA Novosti / Pelagiya TikhonovaOne-ruble coins
One-ruble coins
Prime Minister Mikhail Mishustin has signed a directive on writing off two-thirds of the budget loan debt in the amount of over 114 billion rubles to 21 regions, the Government Press Service reports.
The Arctic beneficiaries are the Nenets Autonomous Area (NAA), the Republic of Karelia, and the Komi Republic. In the Far Eastern Federal District, the write-off benefits the Khabarovsk Territory, the Magadan Region, and the Jewish Autonomous Region.
Under the document, the Komi Republic and the Republic of Karelia will enjoy write-offs amounting to 3.489 and 1.6 billion rubles, respectively. The NAA has been granted a debt discharge of 99.4 million rubles.
The Khabarovsk Territory and the Magadan Region have been given 7.785 and 2.57 billion rubles in debt relief, respectively, and the Jewish Autonomous Region – 458.49 million rubles.
According to Mikhail Mishustin, the write-off will make it possible for the regional budgets to release considerable resources and support further improvements in the economy and living standards.
Deputy Prime Minister – Presidential Plenipotentiary Envoy to the Far Eastern Federal District, Yury Trutnev, addresses the Federation Council
Yury Trutnev reports on Far Eastern development at the Federation Council