The city administration of Elista took out a loan of 50 million rubles to partially pay off the budget deficit.
According to the news agency “Accents”, a loan of 50 million rubles was provided by “Rosbank”, which will receive 2 million 625 thousand rubles from the budget of the Kalmyk capital for its services. Elista mayor’s office failed to play the second tender for a loan of 25 million rubles. There were no people willing to participate in the auction. Apparently, financial organizations were not satisfied with the conditions – the maximum tender price was 1,312,000 rubles. And perhaps they were scared off by the risks that they may face when repaying the loan.
Let us remind you that the city budget deficit for the current year is 62.8 million rubles. Although the authorities plan to reduce it to 9, 5 million in 2023, the municipal debt, according to experts’ forecasts, will only grow in the near future. Moreover, by the beginning of 2022 to 633.4, by 2023 to 653.1 and by 2024 to 662.6 million rubles. According to experts, the city authorities are not going to repay debts on time, and they will not be able to. The volume of expenses for servicing the municipal debt of Elista, for example, is planned for the current year only in the amount of 12.3 million rubles.
“The non-reduction of the debt burden is primarily due to the forecasted drop in the total volume of budget revenues in Elista,” writes the author of the article in “Accents”. “If this year the mayor’s office plans to receive revenues of 3 billion 578 million rubles, then in 2022 this amount is projected at 2 billion 971 million rubles, and in 2023 – 2 billion 552 million rubles.”