As reported in the Ministry of Finance of Karelia, in comparison with the beginning of 2020, the debt of municipalities has decreased by 537 million rubles, or 14%. As of August 1, their debts amounted to 3 356 million rubles. At the same time, the debt decreased both on loans from commercial banks and on budget loans, but mainly municipalities borrowed funds from commercial banks.
Petrozavodsk, Kostomuksha, Kondopozhsky, Olonetsky and Medvezhyegorsky districts and others announced in 2020 more than 40 auctions to attract loans from credit institutions to finance local budget deficits. As a result, 32 municipal contacts were concluded in the amount of 2,377 million rubles.