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Russia’s some regions are in a pre-default state

In those regions the share of state and municipal debts exceeds 50 percent of budget revenues

Photo ITAR-TASS

Photo ITAR-TASS

ZAVIDOVO /the Tver region/, May 31 (Itar-Tass) — Russia’s some regions are in a pre-default state.

Director of Inter-Budget Relations Department at Russia’s Finance Ministry Larisa Yeroshkina named the regions – Tatarstan, Mordovia, Chukotka, North Ossetia; Vologda, Kostroma, Saratov, Astrakhan and Kaliningrad regions, and the Republic of Altai.

She explained that in those regions the share of state and municipal debts exceeds 50 percent of budget revenues.

As for January 1, 2012, the state debt of Russia’s regions made 1,171.8 billion roubles, Yeroshkina said.

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