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Economy/Business
13 January , 15:40

Bashkiria repaid bank loans for 4 billion rubles ahead of schedule

At the end of December 2021, the Ministry of Finance of Bashkiria repaid ahead of schedule bank loans for 4 billion rubles attracted from PJSC Sberbank in 2020 to finance the budget deficit, the ministry reports. "Bashkortostan has once again confirmed the status of a region with a high level of debt sustainability," the Minister of Finance RB, Lira Igtisamova, stated.

Early repayment of bank loans saved RUB 86.7 million of budgetary funds that would have gone to service the public debt.

At the end of 2021, the public debt of the republic amounted to 26.6 billion rubles; the debt burden was less than 17% of revenues (below the level of 2020) due to the receipt of tax and non-tax revenues in the budget of the republic. As previously reported, the regional treasury's tax and non-tax revenues in 2021 amounted to 27.5% by 2020. The positive trend of income is due to the growth of business activity and profitability, the Ministry of Finance explained.

Translated by:Tatyana Aksyutina