THE GROWTH OF THE DEBT OFFERINGS AS A THREAT TO THE FINANCIAL SECURITY OF REGIONS

The relevance of this paper is that it examines the issues of financial security of regions, taking into account the risk-oriented approach to the financial system with the subsequent consolidation of normative legal acts of constituent entities of the Russian Federation. Based on use of this approach it is offered to estimate security of the budgetary system through indicative indicators, one of which should be the level of a debt load. The analysis of the statistical data presented by the Ministry of Finance of the Russian Federation and Federal Treasury allows to make a conclusion that further growth of debt offerings threatens the financial security of regions and to identify the main measures to reduce the debt level of constituent entities of the Russian Federation.