Bashkortostan Ministry of Finance ahead of schedule repaid the Sberbank loan of 400 million rubles

UFA, 30 September 2015. /Bashinform News Agency, Ksenia Kalinina/. On September 28, the Ministry of Finance of Bashkortostan ahead of schedule repaid the loan of 400 million rubles issued by Sberbank, as well as paid interest for the third quarter of this year amounting to 11.1 million rubles. The loan was obtained on December 15, 2014 till November 4, 2016 to finance the budget deficit of the republic at 11.27007% per annum.

"The source of repayment was funds of the budget loan received from the federal budget on September 22, 2015 at a rate of 0.1% per annum in the amount of 614.7 million rubles,” reported the press service of the Ministry of Finance RB. “Considering the above operations, as well as the repayment on September 23 this year, of a part of the bond issue of Bashkortostan 2013 in the amount of 1 billion rubles, the volume of public debt decreased by 785 million rubles and made 23 760 million rubles with a decline of 3.5%".

The republic "saved" 49.2 million rubles on the loan service costs, the department explained.