Russian authorities are shifting financial problems onto citizens through high-yield bonds - intelligence
Kyiv • UNN
The Foreign Intelligence Service reports that the Russian authorities plan to launch "people's bonds" with high yields in seven subsidized regions. This is a way to shift the financial problems of the regions onto citizens, masking the fiscal crisis with attractive promises.
In seven subsidized regions of Russia, the authorities plan to launch "people's bonds" with the promise of high returns. Formally, the funds are supposed to go to social and infrastructure projects, but in fact, it is a way to shift the financial problems of the regions onto the shoulders of citizens. This was reported by the Foreign Intelligence Service, writes UNN.
The leadership of seven constituent entities of the Russian Federation is working on launching so-called people's bonds – another instrument designed to extract money directly from the pockets of the population. Formally, it is about financing infrastructure and social projects, as well as partially covering regional budget deficits, but in fact, it is about a lack of resources. The pilot group included mostly subsidized regions of the Far East: Khabarovsk, Kamchatka, and Primorsky Krais, Magadan and Amur Oblasts, Chukotka Autonomous Okrug, and Yakutia.
The offer is presented as "safe" and "attractive": fixed profitability without market volatility, a rate no lower than bank deposits, and in some places – up to 16–17% per annum, a minimum entry of 1 thousand rubles. The purchase is promised to be as simple as possible – through online platforms without brokerage accounts, with full digital identification. The volume of one issue is limited to 1 billion rubles, allegedly to maintain debt sustainability. It is precisely the excessive "generosity" of the conditions that traditionally signals increased risks – the Russian authorities have repeatedly used similar schemes, shifting financial problems onto citizens.
As noted by intelligence, the key detail is the absence of a strict targeted allocation of the raised funds. The money can go anywhere: from housing and communal services and transport to education and medicine, or simply to current expenses. In the short term, this will help temporarily plug budget holes and reduce pressure on the banking system.
In the longer term, it will only solidify the deterioration of the regions' financial condition: deficits will grow, profit tax revenues will fall, and debts will be postponed to the future. There is no money in the system, so the authorities are once again turning to the population, masking the fiscal crisis with attractive promises that usually end in disappointment.