The dynamics of the public debt of subjects of the Russian Federation

According to the information portal "RIA Novosti" in 2015 against the backdrop of the general economic slowdown and the exacerbation of the regional problems of the Russian Federation, the RF subjects have continued borrowing. Thus, the Ministry of Finance of the Russian Federation has noted that the amounting volume of public debt of the RF subjects has increased by 11% and amounted of the 1st of January, 2016 to about 2.318 trillion rubles, which is 229 billion rubles more than a year before. In comparison: in 2014 the public debt has increased by 20%, in 2013 - by 28.6%, in 2012- by15%. In that way, the growth rate of regional borrowing has decreased. Somewhat, this may be due to the fact that regions have become more to economize. So, the regional budget expenditures have increased by only 1.3% (for comparison, in 2014 the increase was 7.9%). Partly because the fact that in the conditions of financial instability regions are more accurately done weighing the repayment risks. However, the debt burden on regional budgets is a high enough. One may expect an increase in the number of regions with an extremely high level of debt burden. At the same time, despite the fact that in some regions the situation with the debt instruments may have a critical nature, with the support to the Ministry of Finance the default probability is a low. Studies, evaluating the change of public debt amount of the RF subjects for the past ten years, have covered defined scientific interest, in this regard. In addition, the article authors pay attention to generalization of the factors that influenced the amount of the debt burden, namely - the deficit of regional budgets resources, increasing debt service payments, the change of the taxation legislation, problems in the area of inter-budgetary relations.