Krasnoyarsk’s Credit Rating Is Upgraded

The analytical credit rating agency “Expert RA” has upgraded the Krasnoyarsk’s credit rating to “ruA+”, “Stable” outlook.

“The increase of the credit rating of Krasnoyarsk is due to the positive dynamics of a number of economic and budgetary indicators in 2023,” said in the Agency’s report. Analysts note dynamic reduction in the debt burden and debt service costs. The population size demonstrates progressive growth due to the migration inflow. The characteristics of the economy are at a high level as well.

According to experts, the Krasnoyarsk’s rating is due to its balanced budget policy. In 2022, the city’s budget revenues increased by more than 15% compared to the level of 2021, expenditures were completed with an increase of 22%, budget surplus increased account balances.

Additional support for the credit rating of Krasnoyarsk is provided by the high level of economic development, high flexibility of the expenditure part of the city budget and executive discipline of the budget.

The source: http://www.admkrsk.ru/Pages/default.aspx

The photo: Kir Shu on Unsplash

29.12.2023

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