Public debt, debt burden and sustainability: Development trends in regions of Ural Federal District

Abstract

In modern conditions, the provision of the Russian Federation regions with financial resources, including debt instruments, as well as the consequences of decisions on public debt management, are of particular relevance. This article focuses on analyzing the debt situation in the Ural Federal District’s regions between 2021 and 2023. The study aims to comprehensively assess the development of public debt in the Ural Federal District’s regions of the Russian Federation from 2021 to 2023, using publicly available data. The objective of the study is to carry out comparative analysis of indicators in the sphere of public debt of the Ural Federal District regions by specific years with a focus on the regions’ place in the debt burden rating and in the debt sustainability groups. We also conducted a comparative analysis of the public debt sphere development in the Ural Federal District regions in dynamics over a three-year period, with an additional focus on the stable leaders in terms of a set of parameters. The information base of the study was formed by the data of the Ministry of Finance of the Russian Federation and the rating agency RIA Rating on the amount and composition of public debt of the Russian Federation regions, on the debt sustainability groups of the Russian Federation regions, as well as on the level of debt burden for 2021–2023. Grouping, comparative and dynamic analysis methods were chosen as the research methods. We found that Ural Federal District constituent entities
in the Russian Federation show diverse debt indicator trends, yet retain strong debt management capabilities. This requires ongoing proactive efforts from public authorities to prevent negative developments.