Regulation of maximum amounts for internal and external borrowings of the Russian Federation. Theory of everything Maximum volumes of government external and internal debt

The requirements by which municipalities form the upper limit of municipal debt will change. If a municipality has budget loans, this is no longer a reason to exceed the debt limit.

Municipalities have begun drafting budget decisions for 2018-2020. It is necessary that the budget be balanced, that is, revenues must be equal to expenses in the amount of sources of repayment of the local budget deficit.

Important article:

To do this, you need to ensure that the maximum amount of municipal borrowing does not exceed the amount that the municipality allocates to finance the deficit or pay off its debt obligations (Article 106 of the Budget Code of the Russian Federation).

What is the limit for municipal debt?

The amount of municipal debt for the financial year, which the municipality approves in the budget decision, cannot be greater than the approved total annual volume of local budget revenues. In this case, there is no need to take into account gratuitous receipts and tax revenues according to additional standards of deductions (Article 107 of the Budget Code of the Russian Federation).

For municipal districts, city districts, settlements where subsidies amount to more than 50 percent of their own income, there are different rules. For them, the maximum amount of municipal debt should not exceed 50 percent of the approved total annual local budget revenues. At the same time, they also do not take into account gratuitous receipts and tax revenues according to additional standards of deductions (Article 107 of the Budget Code of the Russian Federation).

Is it possible to exceed the municipal debt ceiling?

Since 2018, the requirements for the maximum amount of municipal debt have changed. It must strictly comply with the restrictions that are defined in Article 107 of the Budget Code of the Russian Federation. And budget loans will no longer be the basis for possibly exceeding the maximum level. Keep this in mind when you create budgets for 2018-2020.

The changes are due to the fact that the Ministry of Finance is directing regions and municipalities to reduce the amount of debt and limiting the use of budget loans as instruments for borrowing and restructuring regional and municipal debt. That is, if during budget execution the volume of municipal debt exceeds the established limit, the authority local government may accept new debt obligations only after bringing municipal debt into compliance with legal requirements.

In 2018, local governments that use budget loans will exceed limit values, will first have to bring the debt to an acceptable level and only then make new borrowings. This circumstance should be taken into account when developing the local budget for 2018-2020. And do not plan to borrow under the conditions mentioned above. This approach can lead to an increase in local budget deficits and the threat of their imbalance.

Before January 1, 2018, the amount of municipal debt may be greater than the limit. This is stated in paragraph 9 of Article 7 of Law No. 58-FZ. Thus, the debt could be exceeded by the amount of budget loans that were attracted to the budget from other budgets in the current financial year budget system RF. Thus, in the 2017-2019 budget, the level of municipal debt could be significantly higher than the established limit.

In 2014, in three regions, the share of municipal debt in local budgets’ own revenues exceeded 40% (Republic of Tatarstan - 49.6%, Smolensk region - 40.3%, Penza region - 40.1%).

In 2015, the leaders in terms of relative debt were: the Udmurt Republic - 80.4%, the Penza region - 80.8%, the Republic of Mordovia - 97.2%, the Republic of Tatarstan - 100.5%. So high level debt is associated with the use of budget loans. Thus, in the Republic of Tatarstan, in the volume of municipal debt, budget loans amounted to 25.4 billion rubles, and the total volume of debt was 30.23 billion rubles.

The volume of expenditures of municipalities on servicing municipal debt as of January 1, 2015 amounted to 16.3 billion rubles.

As of January 1, 2016, the volume of debt obligations of municipalities amounted to 29.9% in relation to the volume of local budget revenues, excluding the approved volumes of gratuitous revenues and revenues tax revenue according to additional deduction standards.

How to calculate the limit volume

The upper debt limit must not only be established in a municipal legal act, but also calculated. The amount is determined based on the dynamics of debt obligations during the year. That is, they take the amount of the volume of municipal debt at the beginning of the year, add the volume of new obligations accepted (direct and conditional) and subtract the volume of fulfilled obligations (direct and conditional).

An example of calculating the upper limit of municipal debt is in the table.

The article “Municipal internal debt” of the draft decision on the local budget may look like this:

"Article<…>"Municipal internal debt"

1. Set the upper limit of the municipal internal debt of the municipality as of January 1, 2018 in the amount of ____ thousand rubles, as of January 1, 2019 - ____ thousand rubles, as of January 1, 2020 - _____ thousand rubles.

2. Set the upper limit of municipal debt under municipal guarantees of the municipality as of January 1, 2018 in the amount of ____ thousand rubles, as of January 1, 2019 - ____ thousand rubles, as of January 1, 2020 - ____ thousand rubles.

3. Set the maximum amount of municipal internal debt of a municipal entity for 2018 in the amount of ____ thousand rubles, for 2019 - ____ thousand rubles, for 2020 - ____ thousand rubles.

4. Set the maximum amount of expenditures of the local budget of the municipality for servicing the municipal internal debt of the municipality in 2018 _____ thousand rubles, in 2019 - _____ thousand rubles, in 2020 - ____ thousand rubles.”

Table. Municipal debt ceiling calculation

Debentures	Municipal debt, thousand rubles.
	as of 01.01. 2017 (fact)	2017	as of 01.01. 2018 (estimate)	2018		as of 01.01. 2019 (expected)
	as of 01.01. 2017 (fact)		as of 01.01. 2018 (estimate)	Attracting (increasing) liabilities	Repayment (reduction) of obligations	as of 01.01. 2019 (expected)
Municipal guarantees
including:
name of municipal guarantee 1
name of municipal guarantee 2
name of municipal guarantee 3
Budget loans received from other budgets of the budget system of the Russian Federation
including:
name of contract 1
name of contract 2
name of the contract 3
Loans received from credit institutions
name of municipal contract 1
name of municipal contract 2
to finance the budget deficit
to pay off municipal debt obligations
Total municipal debt

Do you think you are Russian? Were you born in the USSR and think that you are Russian, Ukrainian, Belarusian? No. This is wrong.

Are you actually Russian, Ukrainian or Belarusian? But do you think that you are a Jew?

Game? Wrong word. The correct word is “imprinting”.

The newborn associates himself with those facial features that he observes immediately after birth. This natural mechanism is characteristic of most living creatures with vision.

Newborns in the USSR saw their mother for a minimum of feeding time during the first few days, and most of the time they saw the faces of the maternity hospital staff. By a strange coincidence, they were (and still are) mostly Jewish. The technique is wild in its essence and effectiveness.

Throughout your childhood, you wondered why you lived surrounded by strangers. The rare Jews on your way could do whatever they wanted with you, because you were drawn to them, and pushed others away. Yes, even now they can.

You cannot fix this - imprinting is one-time and for life. It’s difficult to understand; the instinct took shape when you were still very far from being able to formulate it. From that moment, no words or details were preserved. Only facial features remained in the depths of memory. Those traits that you consider to be your own.

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System and observer

Let's define a system as an object whose existence is beyond doubt.

An observer of a system is an object that is not part of the system it observes, that is, it determines its existence through factors independent of the system.

The observer, from the point of view of the system, is a source of chaos - both control actions and the consequences of observational measurements that do not have a cause-and-effect relationship with the system.

An internal observer is an object potentially accessible to the system in relation to which inversion of observation and control channels is possible.

An external observer is an object, even potentially unattainable for the system, located beyond the system’s event horizon (spatial and temporal).

Hypothesis No. 1. All-seeing eye

Let's assume that our universe is a system and it has an external observer. Then observational measurements can occur, for example, with the help of “gravitational radiation” penetrating the universe from all sides from the outside. The cross section of the capture of “gravitational radiation” is proportional to the mass of the object, and the projection of the “shadow” from this capture onto another object is perceived as an attractive force. It will be proportional to the product of the masses of the objects and inversely proportional to the distance between them, which determines the density of the “shadow”.

The capture of “gravitational radiation” by an object increases its chaos and is perceived by us as the passage of time. An object opaque to “gravitational radiation”, the capture cross section of which is larger than its geometric size, looks like a black hole inside the universe.

Hypothesis No. 2. Inner Observer

It is possible that our universe is observing itself. For example, using pairs of quantum entangled particles separated in space as standards. Then the space between them is saturated with the probability of the existence of the process that generated these particles, reaching its maximum density at the intersection of the trajectories of these particles. The existence of these particles also means that there is no capture cross section on the trajectories of objects that is large enough to absorb these particles. The remaining assumptions remain the same as for the first hypothesis, except:

Time flow

An outside observation of an object approaching the event horizon of a black hole, if the determining factor of time in the universe is an “external observer,” will slow down exactly twice—the shadow of the black hole will block exactly half of the possible trajectories of “gravitational radiation.” If the determining factor is the “internal observer,” then the shadow will block the entire trajectory of interaction and the flow of time for an object falling into a black hole will completely stop for an outside view.

It is also possible that these hypotheses can be combined in one proportion or another.

1. Limit volume government debt of a constituent entity of the Russian Federation for the next financial year and each year of the planning period, municipal debt for the next financial year (the next financial year and each year of the planning period) is established by law (decision) on the appropriate budget within the limits established by paragraphs 2 and 3 of this article.

Legislative (representative) body state power of a constituent entity of the Russian Federation, the representative body of a municipal entity has the right, in order to manage the relevant debt, to approve additional restrictions on the public debt of a constituent entity of the Russian Federation, municipal debt.

The maximum volume of public debt of a constituent entity of the Russian Federation, the debt of a municipal entity (municipal debt) for the purposes of this Code means the volume of debt of a constituent entity of the Russian Federation, the volume of municipal debt, which cannot be exceeded when executing the corresponding budget.

2. The maximum volume of public debt of a constituent entity of the Russian Federation should not exceed the approved total annual volume of budget revenues of the constituent entity of the Russian Federation without taking into account the approved volume of gratuitous revenues.

For a constituent entity of the Russian Federation in respect of which the measures provided for in paragraph 4 of Article 130 of this Code are being implemented, the maximum amount of debt should not exceed 50 percent of the approved total annual budget revenues of the constituent entity of the Russian Federation without taking into account the approved volume of gratuitous receipts.

3. The maximum amount of municipal debt should not exceed the approved total annual volume of local budget revenues without taking into account the approved volume of gratuitous revenues and (or) tax revenues according to additional deduction standards.

For a municipal entity in respect of which the measures provided for in paragraph 4 of Article 136 of this Code are being implemented, the maximum amount of municipal debt should not exceed 50 percent of the approved total annual volume of local budget revenues without taking into account the approved volume of gratuitous revenues and (or) tax revenues according to additional standards deductions.

4. Exceeding the limits established by this article in the execution of the relevant budget is a violation of the budget legislation of the Russian Federation and entails the application of coercive measures for violation of the budget legislation of the Russian Federation provided for by this Code.

5. If, during the execution of the corresponding budget, the volume of debt of a subject of the Russian Federation, municipal debt exceeds the maximum amount of state debt of a subject of the Russian Federation, municipal debt established by law (decision) on the corresponding budget, the authorized body of state power of the subject of the Russian Federation, local government body has the right to adopt new debt obligations only after bringing the volume of debt of a constituent entity of the Russian Federation, municipal debt into compliance with the requirements of this article.

6. The law on the budget of a constituent entity of the Russian Federation establishes the upper limit of the state internal debt of the constituent entity of the Russian Federation, the upper limit of the state external debt constituent entity of the Russian Federation (if any) as of January 1 of the year following the next financial year and each year of the planning period, which is a calculated indicator, indicating, among other things, the upper limit of debt for state guarantees subject of the Russian Federation.

The maximum volume of borrowings by constituent entities of the Russian Federation and municipal borrowings in the current financial year should not exceed the amount allocated in the current financial year.

To finance the deficit of the relevant budget;

Repayment of debt obligations of the corresponding budget.

The maximum volume of public debt of a constituent entity of the Russian Federation, municipal debt means the volume of debt of a constituent entity of the Russian Federation, municipal debt, which cannot be exceeded when executing the corresponding budget.

The maximum volume of public debt of a constituent entity of the Russian Federation, municipal debt for the next financial year (the next financial year and each year of the planning period) is established by law (decision) on the corresponding budget within the limits established Budget Code.

The legislative (representative) body of state power of a constituent entity of the Russian Federation or the representative body of a municipal entity has the right, in order to manage the relevant debt, to approve additional restrictions on public debt.

The maximum volume of public debt of a constituent entity of the Russian Federation should not exceed the approved total annual volume of budget revenues of a constituent entity of the Russian Federation without taking into account the approved volume of gratuitous revenues.

The maximum amount of municipal debt should not exceed the approved total annual local budget revenues without taking into account:

The approved volume of gratuitous receipts;

And (or) tax revenues according to additional deduction standards.

Exceeding the established limits when executing the relevant budget is a violation of the budget legislation of the Russian Federation and entails the use of coercive measures.

If, during the execution of the corresponding budget, the volume of debt of a subject of the Russian Federation, municipal debt exceeds the maximum amount established by the law (decision) on the corresponding budget, the authorized government body of the subject of the Russian Federation, a local government body has the right to accept new debt obligations only after bringing the volume of debt of the subject of the Russian Federation, municipal debt in accordance with legal requirements.

The law (decision) on the corresponding budget establishes the upper limit of the state internal (external - if any) debt of the constituent entity of the Russian Federation, municipal debt as of January 1 of the year following the next financial year, which is a calculated indicator, indicating, among other things, the upper limit debt under state guarantees of a constituent entity of the Russian Federation, municipal guarantees.

Commentary to Art. 107 of the Budget Code of the Russian Federation

The upper limits of the debt of a constituent entity of the Russian Federation or municipal debt, including the maximum volume of obligations under state and municipal guarantees, are established accordingly by the budget law or an act of a local government body and should not exceed the volume of revenues of the corresponding budget without taking into account financial assistance from budgets of other levels.

Municipal debt - obligations arising from a municipality as a result of attracting loans, issuing municipal valuable papers, provision of municipal guarantees.
The predicted value of municipal debt as of January 1 of the year in the planning period is calculated on the basis of the actual volume of municipal debt and planned actions to increase it (attracting loans, issuing municipal securities, providing municipal guarantees) and decreasing it (repaying loans, securities, municipal guarantees).
The maximum volume of municipal debt is the maximum volume of debt obligations established by the Budget Code of the Russian Federation that a municipal entity can assume.
The maximum volume of municipal debt is equal to the volume of revenues of the corresponding budget without taking into account financial assistance from the budgets of other levels of the budget system of the Russian Federation.

Upper limit of public debt of the Katyn municipality rural settlement Smolensk district, Smolensk region

The upper limit of the municipal internal debt of the municipal formation of the Katyn rural settlement of the Smolensk district of the Smolensk region as of January 1, 2017 is set in the amount 0,00 thousand rubles

This amount adds up:

1). Balance of debt as of January 1, 2016 for existing obligations 0,00 thousand rubles, namely:

- the balance of debt on budget loans provided from the regional budget to partially cover the local budget deficit in the amount 0,00 thousand rubles;

— the balance of debt on loans from credit institutions provided to partially cover the local budget deficit in the amount 0,00 thousand rubles;

2). State internal borrowings of the Smolensk region carried out in 2016, taking into account their repayment in 2016, as of January 1, 2016 will amount to 0,00 thousand rubles.

Government Domestic Borrowing Program

municipal formation of Katyn rural settlement, Smolensk district, Smolensk regionfor 2016

The volume of government internal borrowings expected to be implemented in 2016 will be only 0,00 thousand roubles. including:

— 0.00 (attracting loans from credit institutions).

State internal borrowing will be carried out to finance the local budget deficit 0,00 thousand roubles.

The amount of funds allocated to repay the principal amount of debt in 2016 is planned to be 0,00 thousand

rubles, including:

— repayment of loans from credit institutions - 0.00 thousand rubles (for loans attracted by the local budget to partially cover the local budget deficit in accordance with loan repayment schedules approved by loan agreements);