The Finance Ministry plans to repay nearly 800 billion rubles to 1 trillion rubles of credits that were taken by defense enterprises, performing state defence order for the speedy rearmament of the Russian army. For the repayment of the so-called credit schemes in 2016, significantly increasing the volume of the closed articles of the budget — the money will go for needs of the Ministry of defense, explained the Minister of Finance Anton Siluanov at a meeting of the state Duma Committee on budget on Monday, October 17.
The decision to defense enterprises took loans from state banks for defence procurement was made some time ago, the Minister reminded. With the help of loans work in speedy rearmament was financed in excess of appropriations, budgeted for this purpose; the state gave a guarantee on these loans, the official added. “This year we see that there is a possibility of repayment of these companies to release them from the debt burden to the ability of these companies to redirect resources, to be able to borrow including the creation of civilian products”, — said the Minister.
The maturity of loans to defense enterprises, which the government intends to repay before the end of the year, 2017 and 2018, told reporters Siluanov. The balance of credits (all of them were taken more than 1 trillion RUB), to be repaid in 2020; these loans too can be repaid government ahead of schedule, did not rule out Siluanov. Premature repayment of loans will allow to save budgetary funds that are spent on subsidizing interest payments, says Siluanov.
In 2011-2014 during the execution of the state defense order was implemented the mechanism of crediting of the enterprises of the defense industry under the state guarantees. The largest creditors were Sberbank and VTB. In 2015, the government abandoned this scheme, replacing it completely budget advance.
Because of “the issue with most of loan schemes” defense business will increase the volume of the closed (secret) budget spending in 2016, said Siluanov. Closed spending in 2016 will increase to 800 billion rubles, Siluanov confirmed. But when the mechanical subtraction of public expenditure from the expenditure side of the budget visible growth of private spending only 679 billion rubles., wrote. How do you get a discrepancy, Silvanus found it difficult to explain: “the Difference is small… don’t know by what”.