Credit Rating Forecast For Tomsk Region Increases to Stable

The largest rating agency experts emphasized, that the Tomsk Region’s structure of expenses is primarily socially oriented.  58.2 bln rubles have been directed towards the financial support of social policies, education, health care, culture, physical education, and sports in 2020, which is more than 67% of all the expenses in the region.

The analysts of the agency also noted, that in 2021, in connection with the projected growth of revenue, the planned reduction of the debt burden is expected to go from 93% to 83%.

In July, the region agreed with the Ministry of Finances of Russia on restructuring the 4 bln ruble budget loan.  In any case, another agreement has been reached on attracting a new loan from the federal budget to substituting commercial debt.  In both cases, the new repayment schedules of budget loans are prolonged through 2029, which will allow to improve the debt profile and considerably cut the annual size of payment of the commercial debt in the next three years.

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