16 Sep 2009 12:48

Debt burden in regions, except Moscow region, not cause for concern - Kudrin

MOSCOW. Sept 16 (Interfax) - The debt burden among the Russian regions is not cause for concern, Deputy Prime Minister and Finance Minister Alexei Kudrin said in the State Duma on Wednesday.

"We are monitoring the debt burden in all the Russian subfederal entities. Not one of them, with the exception of Moscow region, is a cause for concern," he said.

The government is working on a debt restructuring for Moscow region at the same time law enforcement agencies are investigating violations that occurred earlier, he said.

Over 20 of the regions posted higher revenue in the first eight months of 2009 than in the same period last year, dispelling the worst fears.

"We planned sufficient resources for budget balancing and loan support to the regions: 150 billion rubles for each area. At present subsidies totaling 73 billion rubles out of 150 billion rubles have been allocated and loans totaling 80 billion rubles out of 150 billion rubles have been made, including 24 billion rubles for roads," Kudrin said.