Irkutsk Region's State Debt Doubles, Government Explains

The state debt of Irkutsk region, which doubled over the year and reached 82 billion rubles (approximately $820 million at current rates) as of January 1, 2026, corresponds to a moderate level of debt burden. The regional government«s press service reported this in response to a request from »IrCity«.

As follows from documents published on the Ministry of Finance website, out of the total amount, 27.8 billion rubles (approximately $278 million at current rates) are budget loans that have been restructured until 2039–2040.

The amount of commercial loans is 54.3 billion rubles (approximately $543 million at current rates), and according to the statement, the region will have to repay 24 billion rubles (approximately $240 million at current rates) already in March–April.

According to Nadezhda Grosheva, dean of the Siberian-American Faculty of Management at Irkutsk State University (ISU) and Doctor of Economic Sciences, Irkutsk region «fits within» the legally established limits for deficit and state debt.

According to the government, the state debt of Irkutsk region stands at 35.6% of its own revenues, while the Budget Code sets the maximum permissible level at no higher than 100%.

«The state debt of Irkutsk region corresponds to a moderate level of debt burden,» emphasized the government.

According to the government, the funds borrowed at the end of 2025 were directed towards repaying previously attracted budget and commercial loans, as well as financing the budget deficit and priority socially significant expenses.

To the question of whether additional revenue sources are forecasted, the government did not respond, but reported that at the end of last year, a commission for improving state finances was formed. This commission operates on a permanent basis, and its working groups consider issues related, in particular, to increasing budget revenues.

This year, the authorities also plan to attract bank loans under the approved borrowing program. These funds will go not only towards ensuring the liquidity of the regional budget account and repaying previously taken loans, but also towards infrastructure projects approved by the Government Commission for Regional Development in Russia.

For example, it was previously reported that the Commission approved the application of the Angara region for a treasury infrastructure loan of 3.7 billion rubles (approximately $37 million at current rates) for the reconstruction of berthing facilities in the settlements of Port Baikal and Listvyanka. It is also known that in 2026, the reconstruction of the Ershovsky water intake is planned.

At the end of last year, government representatives warned that the region would enter the new year with accounts payable again, but its volume was not specified. In January 2026, the government press service did not respond to the «IrCity» portal about what accounts payable the region has, but reported that information on its volume will be formed in March 2026, during the preparation of the budget execution report. Nevertheless, as part of the mentioned commission for improving finances, there is a working group on dealing with accounts payable.

At the same time, the cabinet clarified that the accounts payable that arose at the end of 2024 was repaid through «redistribution of funds from expenditure areas not related to priority expenses, not affecting the fulfillment of socially significant obligations and the achievement of goals of national and federal projects.» Recall that the volume of the regional budget«s accounts payable was then estimated at 15 billion rubles (approximately $150 million at current rates).