Sobyanin allowed Moscow to enter the borrowing market in 2025-2027 – Kommersant
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Moscow Mayor Sergei Sobyanin said the capital could enter the borrowing market in 2025-2027 as it enters “a phase of super-high renovation spending.” At the same time, he clarified that in 2023 borrowing will not be needed.
“There is a return on these investments. And, in the end, it will pay for itself, but for some period, high investments will be required. And these large investments are possible either by reducing other areas of the targeted program, or by borrowing. And so, and so it is possible, ”said Mr. Sobyanin “Interfax” at the St. Petersburg International Economic Forum.
The total budget of Moscow for 2023 will amount to 3.746 trillion rubles, expenses – 4.183 trillion rubles. The deficit of 436 billion rubles, according to Sergei Sobyanin, “is of a technical nature.” He admitted that by the end of the year the capital will come out “even with a surplus.” The renovation of the city includes the construction of new residential buildings to replace the old ones, schools, clinics, and the development of a transport network.
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