national needs are mostly financed from funds that the state receives in the form of taxes and obligatory payments.At a time when government revenues are down sharply, there is a need to cover their costs at the expense of funds received from other sources.Thus formed, and the national debt, by which is meant a set of credit relations between the borrower (government) and creditors (natural or legal persons).In the field of public relations of the State may be both the borrower and the lender.
Currently, there are types of public debt of the Russian Federation, both internal and external.It should be noted that such division in Russia has a slightly different approach than in other countries.According to the law of the Russian Federation "On the state internal debt of the Russian Federation", which was adopted in 1992, the division of public debt to foreign and domestic currency held by the criterion.Hence, all borrowing Russia are divided into external and internal, in view of the emerging currency liabilities.Simply put, the internal public debt - is denominated debt and external - currency debt.In world practice, the internal public debt is defined as the duty of the state to their populations.On the basis of the same international practice, forms of domestic government debt may be as obtained government loans, government loans, carried out through the issuance of securities received budgetary loans and budgetary credits, as well as certain other liabilities.
domestic debt can be divided into market (existing in the form of equity securities) and market (formed by the results of the federal debt and issued in respect of repayment of the debt).
internal debt carries much less risk than domestic debt.Leakage of goods and services when it is extinguished does not occur, while at the same time is almost impossible to do without some changes in the economic life, which in most cases have very significant effects.And the higher the internal public debt, the greater will be the negative consequences.For example, the payment of interest on the debt leads to the fact that income inequality is formed, as the largest part of government commitments is concentrated among the wealthiest segment of the population.As a result of the repayment of domestic debt leads to the fact that the funds received by the most vulnerable segments of the population, are moving to the more affluent.As a result, the one who owns the bonds, is enriched even further.
Internal public debt, compared with the outside, much less so in recent years seen a transformation of the latter in the first.External public debt is repaid from the funds that are borrowed on the domestic market.In this regard, since 2002, the state began to increase the amount of domestic public debt.It should be noted that this substitution is still ongoing.
internal state debt is not only a positive or only the negative side of the economy.Based on the current state of the economy, it takes likely neutral position.Expect that in a few years, the need of the domestic public debt will disappear, is unlikely to, but try to reduce its volume to a minimum, it is a direct obligation of the state.
