Vladimir Putin proposed to write off two thirds of the regions' debt on budget loans

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AK&M 29 February 2024 16:14

Russian President Vladimir Putin has proposed to write off two thirds of the regions' debt on budget loans. The head of state stated this in his address to the Federal Assembly.

This will allow the regions to save 200 billion rubles annually in 2025-2028. These funds will need to be used to support investments and infrastructure projects.

The President of the Russian Federation also instructed to send 360 billion rubles to the subjects of the Russian Federation implementing major landscaping projects.

In addition, 4.5 trillion rubles will be allocated by 2030 for the modernization of municipal infrastructure in the regions.