The government of the Sverdlovsk region recorded a significant decline in the state debt of the region. According to the data for September 1, the crediting of the Middle Urals was reduced by 18.3 billion rubles relative to the volume of public debt at the beginning of the year. The level of debt burden was reduced from 42% as of January 1, 2017 to 29.1% as of September 1.
As explained by the vice-governor Galina Kulachenko, "the government of the region continues to carefully approach the attraction of new borrowings".
To ensure a reduction in public debt servicing costs, refinancing of liabilities on loans of credit institutions attracted earlier in June and August at rates exceeding the current market offers. Rates for the use of credit facilities have been reduced from 12.15% per annum to 8.5% per annum, which will allow annually to reduce the cost of servicing these loans by more than 700 million rubles.