August 11, 2014. The state debt of Sverdlovsk Region decreased from 34.8bn RUR down to 33bn RUR at the beginning of August, Sverdlovsk Region Finance Ministry’s press service reports.

‘In order to reach a more viable budget picture, the ministry took our short-term loans from both the federal budget funds and the existing credit lines during the seven months of 2014. So, despite the difficulties with the revenues coming into the constituency’s budget and thanks to the well-balanced fiscal and budget policy, we managed to pay off the loans and meet Sverdlovsk Region’s liabilities,’ the Finance Ministry says.

In January-July, Sverdlovsk Region paid off all of its debts that were to be redeemed over this period in full and in due time. These payments included loans taken out from banks in 2011 and a portion of Sverdlovsk Region state bonds’ face value.