The Russian government wrote off 3.5 billion rubles of debt owed by the Nizhny Novgorod region.

      29 August 2025 12:46

      [163]

      Economy

      Nizhny Novgorod Oblast received a write-off of part of its debt on federal budget loans in the amount of 3.5 billion rubles. This was reported by the region’s deputy governor, Yegor Polyakov.

      The write-off was made possible under existing rules that allow regions in 2025–2029 to be relieved of two-thirds of debts formed as of 1 March 2024. However, strict conditions are attached: at least half of the written-off funds must be allocated to the development of housing and utilities infrastructure. The remaining funds may be used to resettle residents from unsafe housing, renew public transport, implement investment initiatives, and develop key settlements.

      In June, the Presidium of the Government Commission for Regional Development approved Nizhny Novgorod Oblast’s application to write off debt in the amount of 46.5 billion rubles, of which 3.5 billion rubles pertain to expenses incurred in 2024. These funds were directed to specific projects that meet the established criteria.

      In particular, a significant portion of the sum went to replacing elevators in apartment buildings. Also financed were measures to resettle residents from the emergency housing stock, the development of infrastructure in key settlements, and the renewal of the public transport fleet.

      According to Yegor Polyakov, the write-off reduced the projected volume of the region’s public debt at the end of 2025 by 1.8%. Regional authorities intend to continue working with the Russian Ministry of Finance to achieve additional debt reduction in subsequent years. If current conditions are maintained, this could lead to a further reduction of public debt by 20% compared with the 2025 level.

      Earlier it was reported that the authorities of Nizhny Novgorod Oblast partially repaid debt to commercial banks totaling 4.2 billion rubles.

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