Vladivostok City Hall takes loans - the city does not have enough money.
The administration of Vladivostok opened a purchase of a revolving credit line from a commercial bank with a limit of up to 400 million rubles. The tender was published on November 9, the results will be published on November 18.
The line is valid for three years, the interest rate varies, the key interest rate of the central bank plus a premium of no more than 1% per year, interest is paid monthly. For late payment there is a fine of 1/300 of the key rate per day.
early repayment without fees or penalties; At the bank's request, the mayor's office is obligated to approve the intended use of the funds and provide extracts from the municipal debt register.
This is not the city's first loan this year. In July, Vladivostok already withdrew 1.4 billion rubles from commercial banks. The current budget deficit is 1.21 billion rubles.
At the same time, in September, deputies, at the initiative of the mayor's office, raised the salary of the mayor, the Duma chairman, the head of PSAD and his employees. In the coming years, the administration expects to save 1.2 billion rubles on purchases, subsidies and workforce reductions.
For the business community, the signal is clear - the municipality is increasing its debt burden due to a deficit and the new credit framework is not about infrastructure development, but about covering current expenses. The main question is how the debt will be serviced if savings of 1.2 billion dollars have not yet been achieved.