​Russian Ministry of Finance plans to restrict regional debt

RUSSIA / FSU POLITICS - In Brief 14 Dec 2018 by Alex Teddy
In Russia, regional governments will not be permitted to spend over 10% of their budgets on servicing debt. The Ministry of Finance will place further restrictions on regions that it regards as overly indebted. Some of the poorer regions have borrowed heavily and have debts over 100% of GDP. Solutions to excessive debt such as slashing social programs or allowing regions to raise more revenue have not yet been agreed to.

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