Ways of Development of Public Debt Management in Constituent Entities of the Russian Federation

Management of the regional debt is one of the most important components of the activities in Constituent Entities of the Russian Federation. Inefficient management of sub-Federal debt can lead to insolvency of the region, which regional authorities are trying to avoid using various debt policies. The modernity and relevance of this work lies in the use of a new system of assessing the debt sustainability of Constituent Entities of the Russian Federation. The new system has not yet been enshrined in law and its methodology has not been fully formed, which allowed the author to make proposals for the calculation of the main indicators of the evaluation. In the first part of the study the author considers the theoretical aspects of the formation and management of government debt at the regional level. Then the study provides comparison of Russian regions on the basis of the volume and structure of public debt and their debt policies. The third part of the study aims to identify the main problems of public debt management and suggest ways to overcome them. The analysis is based on the materials submitted by the Ministry of Finance of the Russian Federation and official documents of the Constituent Entities of the Russian Federation.