PUBLIC DEBT SUSTAINABILITY OF RUSSIAN REGIONS AT THE PRESENT STAGE

The paper presents the results of the study of debt sustainability of Russian regions. It presents a brief literature review of the category of debt sustainability in the regional context, the system of debt sustainability assessment indicators. The analysis of debt sustainability of the subjects of the Russian Federation using the rating assessment was carried out. The analysis of the region debt sustainability showed that the unfavorable economic situation caused by the COVID-19 pandemic did not have a strong impact on the debt burden, the sustainability of Russian regions in 2020 increased. The number of regions with high debt sustainability increased by 3.6 %, and the number of regions characterized by low debt sustainability decreased to 3 subjects out of 85. It is assumed that the impact of the pandemic on debt sustainability has a delayed effect and is due to the peculiarities of the budget process. Current challenges due to great economic uncertainty, the requirements for the implementation of national projects are likely to lead to an increase in the debt burden on regional budgets. In order to identify the key factors influencing the debt sustainability, a correlation analysis was conducted, and it was concluded that the socio-economic situation of the region has an average close relationship with its debt sustainability. The debt sustainability regions of the Urals Federal District were assessed using a regulated methodology. Based on the conclusions made, the directions for increasing debt sustainability of Kurgan region were formed.