Putin instructed the Central Bank to lower interest rates on loans to regions


RIA Novosti

Russian President Vladimir Putin recommended the Central Bank to take measures to reduce interest rates for the regions. This was reported on the Kremlin website.

“To recommend to the Central Bank of the Russian Federation to analyze the formation of interest rates on loans provided to subjects of the Russian Federation credit institutions, and take measures to reduce them”, — stated in the document issued on 4 January.

The period of performance of the assignment until March 1, 2017, responsible appointed head of the Central Bank Elvira Nabiullina.

In addition, the President instructed the government to hold until December 1, 2017, the assessment of potential tax and non-tax revenues of regional budgets, and to develop new mechanism to provide financial assistance on a non-reimbursable loan basis. The latter is necessary for “financing the expenditure and debt obligations without increasing public debt”.

Until November 1, 2017 (and then annually) the heads of higher Executive bodies in the regions it is necessary to make inventory of property owned by entities. It is also necessary to privatize the property owned by region and income, as well as not used to solve social problems.

A list of instructions drawn up by results of check of execution of decisions of the President on the effectiveness of measures to reduce the deficits of regional budgets.