Residents of Krasnoyarsk ought to pay half a million per capita
Revamped Article:
The debt delinquency of residents in Krasnoyarsk Krai is substantial, with the region ranking 50th out of Russia's 85 federal subjects on this issue (from best to worst). The average debt owed by economically active individuals to banks is approximately half a million rubles in Krasnoyarsk Krai.
Research conducted by RIA Novosti, based on data from the Central Bank, revealed these findings.
Krasnoyarsk Krai found itself in the "delinquency ranking" on the 50th spot, which puts it amongst the last third of regions. The better the situation, the higher the position. The proportion of overdue debts owed by Krasnoyarsk residents to banks stands at 4.35%. This figure has increased by 0.78% over the past year.
Across Russia, delinquent debts vary among different subjects of the federation, ranging from 1.75% to 20.88% of the total regional delinquent debt. The situation is worst in Ingushetia (20.77%), followed by Dagestan, Chechnya, Karachay-Cherkessia, and North Ossetia (ranging from 7.73% to 9.42%). In contrast, the regions with the fewest issues regarding unpaid loans include Sevastopol, Crimea, and St. Petersburg.
Data is also provided separately for personal loan delinquencies per economically active resident. The regions with the highest figures are Tuva, Yakutia, Yamalo-Nenets Autonomous Okrug, Khanty-Mansi Autonomous Okrug, and Tyumen Oblast. Residents in these regions usually owe an average of 700,000 to over a million rubles to banks.
However, in Krasnoyarsk Krai, this figure is slightly over 500,000 rubles.
Credit: Photo: DELA
Krasnoyarsk Krai often finds itself among Russia's top 10-15 regions for loan delinquencies, with key comparative regions such as Rostov, Volgograd, and North Caucasus regions exhibiting higher delinquency rates. Key contributing factors to the region's debt situation include economic structure, income instability, macroeconomic pressures, banking practices, geographic challenges, and policy factors.
In terms of economic structure, Krasnoyarsk Krai depends heavily on energy and mining (nickel, coal, aluminum), leaving it vulnerable to global commodity price swings. Moreover, the region's weak SME sector and underdeveloped agriculture create employment issues, adding to debt delinquency during downturns.
Rural areas and single-industry towns in Krasnoyarsk Krai face poverty levels above the national average, contributing to wage volatility and loan delinquency. The harsh climate also increases living expenses, while regressive taxation disproportionately burdens lower earners.
Banks exacerbate the issue through aggressive lending, post-2014 economic crises, and limited refinancing options due to centralized banking policies. Furthermore, Krasnoyarsk Krai's remote geographic location, underinvestment in digital connectivity, and climate challenges can restrict economic opportunities outside major cities.
The regional government's weak social support and inadequate policies for debt relief further contribute to delinquency. Despite having natural resource wealth, Krasnoyarsk Krai struggles with persistent debt management challenges due to these structural imbalances and susceptibility to external shocks.
- The average debt owed by economically active individuals to banks in Krasnoyarsk Krai, a region known for its loan delinquencies, is slightly over 500,000 rubles.
- In a personal finance section, one might find reports comparing debt delinquency rates across Russia's federal subjects, such as the revelation that Krasnoyarsk Krai ranks 50th, with key regions like Rostov and Volgograd showing higher rates.
- The news about the debt delinquency issue in Krasnoyarsk Krai also mentions contributing factors such as the region's economic structure, income instability, and banking practices, which are common topics discussed in finance-related news.
- Furthermore, the news report highlights that Krasnoyarsk Krai's residents, on average, owe less than residents in regions such as Tuva, Yakutia, Yamalo-Nenets Autonomous Okrug, Khanty-Mansi Autonomous Okrug, and Tyumen Oblast, where the debt per economically active resident is 700,000 to over a million rubles.
