Kuban's public debt increased by 6.5% and reached 145 billion rubles

As of January 1, 2016, the volume of public debt in the region amounted to 145.26 billion rubles.

The bulk of the state debt of the subject falls on budget loans - 66.27 billion rubles. and bank loans - 59.1 billion rubles. In addition, 8.4 billion rubles. The region's obligations on securities amount to 11.48 billion rubles. - under state guarantees.

In December 2015 alone, the volume of the region’s public debt increased by 3.7 billion rubles. The increase in its size was mainly due to the issue of bonds in the amount of 4.8 billion rubles by the Krasnodar Territory.

Until 2009, Kuban had one of the lowest levels of public debt in the Russian Federation - 7 billion rubles. However, the global economic crisis has reduced the amount of income received by the regional treasury, which has led to a search for borrowed funds. In addition, in 2010-2014. The regional budget had to finance a number of expenses for holding the Olympics and Formula 1 in Sochi, as well as issue guarantees for related facilities. Also during this period, the region was forced to allocate funds to eliminate emergency situations (including from the budget it was necessary to compensate for losses to victims of the flood in Krymsk in 2012). As a result, in 2014, the volume of Kuban’s public debt increased 19.5 times (compared to the 2009 level) and amounted to 136.3 billion rubles.

At the same time, considerable funds are spent annually on servicing debt obligations. The Ministry of Finance of the Krasnodar Territory previously stated that no more than 4% of budget expenditures are spent annually on servicing the state debt. In this case, the acceptable value is 10%. For example, in 2014, the Krasnodar Territory spent 6 billion rubles on servicing the state debt. And in 2016, 7-7.5 billion rubles should be allocated for these purposes.