REGIONAL STATE DEBT: STATUS AND TRENDS

If the Russian state budget is characterized by low public debt, then a part of the regional budgets was characterized by a budget imbalance. The formation of the regional budget deficit was influenced by the COVID-19 pandemic, geopolitical crises, as well as a shortage of their own tax and non-tax revenues and, as a result, uncontrolled borrowing. All this has led to an increase in risks to the sustainability of the region’s budgets and has led to the need to support the regions by replacing commercial debt with budget loans, followed by the cancellation of a significant amount of such loans. The purpose of the work is to analyze the state of the national debt of the Republic of Mordovia and substantiate the trends of its development. During the research, the authors used the method of a systematic approach, correlation and regression analysis using a piecewise linear model. The article concludes that the crucial role in reducing the public debt of the Republic of Mordovia was played by the opportunity provided by the state to write off the public debt of the subjects of the Russian Federation with the further allocation of released funds for the economic development of the region. The results obtained can be used by public authorities in assessing public debt.