Modern mechanism of restructuring regional debt to the Russian Federation on budget loans

The study highlights the main stages and forms of the restructuring of the debt of the constituent entities of the Russian Federation to the Russian Federation on budget loans carried out by the Government of the Russian Federation, and describes the key features of the restructuring of regional debt in 2021-2024. Based on the reporting information of the regions that participated in the restructuring of debt on budget loans, a conclusion was made regarding the priority of developing the investment potential of the regions by directing the funds released as a result of the restructuring of debt on budget loans to the infrastructural development of new investment projects, which subsequently allowed the regions to write off debt on budget loans in the amount of federal taxes from such projects. Conclusions were made about the ambiguous effectiveness of the restructuring of regional debt, which can be used to improve the current mechanism for writing off two-thirds of the regions’ debt on budget loans, announced in the Address of the President of the Russian Federation to the Federal Assembly in February 2024.