Bashkiria will borrow 2 billion rubles from bank to cover budget deficit

The Ministry of Finance of Bashkiria will conclude two agreements with PJSC Sberbank for the provision of loans of 1 billion rubles each, following the results of the auctions held on December 4. The bank was the only participant; the contracts will be concluded at initial prices - 68 million rubles each. Loans issued at 5.25% per annum should be repaid on April 1, 2022.

In January - September of this year, the regional budget deficit amounted to 20 billion rubles. For 2021, the deficit is planned in the amount of 24 billion rubles with revenues of 188.8 billion rubles and expenses of 212.8 billion rubles. In the final draft budget, expenses were cut by 3.4 billion rubles, and plans for revenues - by 5.4 billion rubles.