Public debt represents the current amount on a certain date the state budget deficit, net surplus (surplus).In practice, the state debt of Russia is considered to be the country's debt to individuals and legal entities, international organizations, and other subjects of international law, foreign states, as well as the obligation to state guarantees granted to the Russian Federation.
Legislative Budget Code provides that the external public debt - a liability that arose in foreign currency, while domestic public debt - a commitment that appear in the national currency.
for greater compliance with existing realities of these concepts can be formulated as follows: foreign debt of the Russian Federation -all attract loans from foreign sources, for which there are certain financial obligations of the state as a guarantor of the borrower's assets or the repayment of loans granted to other borrowers.Such external borrowing form the Russian loans.
to determine domestic debt use such language and terminology.Major - is the sum of outstanding State liabilities, including interest thereon.Main - means the nominal value of the country's obligations and debt, which it guaranteed.
By Budget Code the amount of domestic debt includes principal (for securities issued by the government, credit, loans, state guarantees provided by the country).In appearance - include liabilities of state guarantees, it offered the country, and the principal amount of all loans granted by foreign governments, businesses, international organizations, lending companies.
Public debt will grow if there are delays in the payment of interest on the principal loan.
As the public debt of the world, debt Russia could take several forms. It can be in the form of loan agreements concluded on behalf of the Russian Federation with other States, international financial companies and credit institutions;treasury bonds through the issuance of securities of a public nature;agreements on obtaining budgetary loans and credits from the budget of the lowest level of the Russian Federation;contracts for the extension of commitments and restructuring;Agreements receiving loans and credits from the lower levels of the budget system.
Debt service state requires the redistribution of the country's income.In order to repay the loans, you can use the existing state assets, as well as to give a part in the privatization of state property.There is another approach, which provides for an increase in budget revenues through broadening the tax base.In this case, the burden shifted to the public (taxpayers).Another source of loans are the Central Bank.
In fact, the external debt service leads to a redistribution of a certain part of the national income to non-residents.
The country has a system of accounting of state borrowing, which is controlled by the Ministry of Finance.
from the budget funded by the president of the Russian Federation, the activities of the executive, judicial and legislative authorities, national defense and state security;providing support for individual economic entities operating in the priority sectors of the economy of the country;financing of public institutions;funding for international projects conducted in the national interest;to eliminate the consequences of natural disasters and emergencies arise;election financing and other expenses of state authorities of the Russian Federation.
