Encyclopedia

State External Borrowings of a Subject of the Russian Federation


State external borrowings of a subject of the Russian Federation are the attraction, in the name of a subject of the Russian Federation, of borrowed funds into the budget of a subject of the Russian Federation through the placement of state securities of a subject of the Russian Federation and in the form of loans from the federal budget within the framework of the use by the Russian Federation of targeted foreign credits, as well as from international financial organizations and foreign banks, which give rise to debt obligations of a subject of the Russian Federation as a borrower, expressed in foreign currency1.

  1. Budget Code of the Russian Federation dated 31.07.1998, as amended on 2019-08-02, Article 103, paragraph 12 // RSZ RF. 1998. No. 31. Art. 3823. ↩

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