For the last 7 months of 2010 the state debt of the Republic of Komi reduced at about RUR 1.5 bln.
In the period to date RUR 2.5 bln of credit institutions’ raised funds have been repaid. Debt service in Komi is arranged in accordance with contracts and agreements within budget allocations. Overdue loan debt obligations in Komi are not available.
“RF Central Bank refinancing rate reduction caused the commercial banks’ credits interest rate declination and provided Komi state debt service cost reduction. As for contingent liability of the republic, i.e. guarantees, the correct principals' contract performance can be observed”, commented Vitaly Stakhanov, Minister of Finance of Komi.
At the moment, the state debt of Komi amounts to RUR 4.4 bln.
In March-April this year the republic attracted RUR 204.6 mln of federal financing for construction, public motorways overhaul and maintenance. RUR 1 bln of bank loan have been attracted to cover regional budget deficit.
