The credit rating of the Nizhny Novgorod region has changed: what the Ministry of Finance says

      April 9, 2026 18:15 Economy The credit rating of the Nizhny Novgorod region on the national scale of the Expert RA agency has been downgraded from ruA+ to ruA. However, the A category itself, corresponding to a moderately high level of creditworthiness and financial stability, remains unchanged. The agency links the revision of the rating to a number of factors. Among them are the growth of the region's public debt, a decrease in tax and non-tax revenues, as well as an increase in the budget deficit. These trends are due to the current macroeconomic situation, the need to cover the deficit that formed in 2025, and the increase in the volume of attracted infrastructure budget loans. The regional Ministry of Finance notes that the economic situation always influences budget formation. Currently, it remains challenging: a strict monetary policy is in effect from federal agencies, and high interest rates persist. Overall, the current year is assessed as unfavorable in terms of financial stability both for the country and for most regions. It is emphasized that the current budget expenditures of the Nizhny Novgorod region are covered by its own revenues. Borrowings are primarily attracted to finance large infrastructure and social projects, including the construction of schools and kindergartens, the development of the metro, and the road network. As of April 1, 2026, the debt burden of the regional budget is 75.7%, and excluding infrastructure budget loans, it is 52.9%. This level is considered economically safe by the government. The regional debt policy is focused on long-term budget loans from the federal budget. Their share in the structure of public debt reached 59.9% at the beginning of April. It should be noted that the Nizhny Novgorod region ranks first in the volume of approved infrastructure budget loans — 121.1 billion rubles. Attracting federal funds allows for the implementation of large projects now, without delaying the region's development. NIA "Nizhny Novgorod" has a Telegram channel. Subscribe to stay updated on major events, exclusive materials, and timely information. Copyright © 1999—2025 NIA "Nizhny Novgorod". When reprinting, a hyperlink to NIA "Nizhny Novgorod" is required. This resource may contain materials 18+