Russian Finance Minister Anton Siluanov said that the growth of classified budget expenditures associated with the decision to repay loans defense companies taken for the implementation of the state defense order, reports RBC.
This year the classified portion of the spending, according to Siluanov, increased by 800 billion rubles. This loan defense companies scored more than one trillion rubles. Loans granted by public banks in the framework of the speedy rearmament of the army, explained the Minister.
The decision to defense enterprises were financed through state banks, was made “some time ago”, explained the Finance Minister. “This year we see that there is a possibility of repayment of these companies to release them from the debt burden,” – said Siluanov.
According to him, the government intends to repay loans of defense until the end of 2016, although they were issued until 2017-2018. Premature repayment of loans will allow to save budgetary funds that are spent on subsidizing interest payments, the Minister said.
In 2011-2014 during the execution of the state defense order was implemented the mechanism of crediting of the enterprises of the defense industry under the state guarantees. The largest creditors, as noted by RBC, were VTB and “Sberbank”. In 2015, the government abandoned this scheme, replacing it completely budget advance.