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Standard & Poor's rating

Agency confirmed long-term credit rating of the region at BB+ level

Experts of an international rating agency Standard & Poor's confirmed long-term credit rating of Leningrad region at BB+ level, outlook – stable.

High assessments of the regional solvency prepared by independent international experts confirm that the region has chosen the right priorities in implementation of regional budgetary policy and social and economic development of the territories.

“Strengthening the revenue base of the budget and increasing efficiency of expenses the region keeps its financial stability and impeccable credit history. At the same time we are gradually reducing government debt and its maintenance costs”, said the first Deputy Chairman of the Government of Leningrad Region – Chairman of Finance Committee Roman Markov.

Along with that, Standard & Poor’s analysts expect that the region will continue demonstrating strong liquidity indicators.

“We still believe that in the nearest three years Leningrad region will be demonstrating high current surplus which will allow it to restrain budget deficit considering capital expenditures and this deficit will be financed mainly by means of balances of budgetary accounts. As the result the region will be maintaining very small debt load,” comment the experts.

Standard & Poor’s notes that, in particular, favourable geographical location in close proximity to Saint Petersburg and at the intersection of main transit routes between Russia and the EU countries as well as continuing flow of investments in development of transport, power engineering and manufacturing positively affect the economy of Leningrad region.



In 2017 Leningrad region reduced its government debt almost three times and today it is not more than 4% of own revenues. Complete and early repayment of all commercial loans of the region is an important result of the work of Leningrad region.

According to the statistics provided by the Ministry of Finance of the Russian Federation, the region keeps the status of the subject of the Russian Federation with one of the lowest level of debt load in the country. In the end of 2017 Leningrad region occupied the second place in the Northwestern federal district and the ninth place in Russia (in 2016 it occupied the 15th place) among the regions with the lowest level of government debt.

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Economic Development Agency of Leningrad Region


Address: 64 B Malookhtinsky avenue, office 402, Saint Petersburg, 195112, Russia

Phone: + 7 (812) 644 01 23

Fax: +7 (812) 644 01 23 (ext. 2042)




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