Debt on budget loans will be written off to 79 regions of the Russian Federation

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In Russia, 79 regions will be able to write off their debt on budget loans. These figures were announced by Finance Minister Anton Siluanov during a meeting between Russian President Vladimir Putin and members of the government.

According to Siluanov, the total amount of debt cancellation on budget loans of subjects will exceed 1 trillion rubles.

Subjects will be able to write off up to two thirds of budget loans in order to allocate at least 50% of the released funds for the implementation of projects in the housing and communal services sector.