The Cabinet will write off 12.5 billion rubles of debt to 7 regions

The Russian government has decided to write off almost 12.5 billion rubles of debt on budget loans to seven Russian regions.

These included Buryatia, Trans-Baikal Territory, Kirov, Novgorod, Penza and Pskov regions, as well as the Chukotka Autonomous District. This was stated by Prime Minister Mikhail Mishustin during an operational meeting with deputies.

Mishustin explained that the measure is being implemented as part of the presidential initiative to write off two-thirds of the debt on budget loans, which will allow the regions to free up resources for solving priority tasks.

Due to debt cancellation, the subjects will be able, in particular, to implement the measures laid down in the master plans of the cities of the Far Eastern Federal District and the Arctic zone: for example, to build a school or a world-class interuniversity campus. In addition, some of the released funds are planned to be used to support participants in a special military operation and their families, the head of the Cabinet added.