Pandemic provokes almost tenfold increase in real estate debts in Tatarstan

According to statistics, the corporate debt portfolio of the republic has exceeded 650 billion rubles

In the context of the severe pandemic year, the suppliers of goods and services in Russia were owed almost 30 trillion rubles, or 15% more than a year earlier, Realnoe Vremya calculated. At the same time, overdue debt in a number of industries has more than doubled — the largest debts were formed in the financial and insurance sectors, the hotel industry and catering. In Tatarstan, the largest increase in delinquency — seven times — was demonstrated by real estate transactions. In eleven months, the figure reached half a billion rubles, and the management companies of the non-residential fund owed the most.

Suppliers are owed almost 30 trillion

Last year in Russia, the debt to suppliers and contractors for goods, works and services increased to 28,2 trillion rubles against 24,5 trillion rubles a year earlier (+15%). In Tatarstan, the indicator increased from 584,9 billion to 651,4 billion (+11,4%).

At the same time, the overdue debt for all types of activities in the country reached 2,87 trillion rubles (+3,1%).

The leaders of the anti-rating for delinquency were civil servants and the military — “public administration and military security; social security”. The growth is more than threefold: from 96,4 million to 320,3 million rubles.

Financial and insurance companies also showed a large increase in overdue debts — 120,9%, the amount increased from 1,7 billion to 3,8 billion rubles. As suggested by Andrey Movchan, a Russian economist, head of the economic programme of the Carnegie Moscow Centre, this is due to that insurers carefully underestimate and deliberately delay payments: “This is a culture of interaction. As for financial institutions, it may be related to the insolvency of small organisations, microfinance organisations.”

Hoteliers and restaurateurs also showed a high level of delinquency, whose debt last year reached 2,3 billion rubles against 1,1 billion compared to 2019. The companies that specialise in “providing other types of services” also doubled their debts: from 553,6 million to 1,07 billion rubles.

The same applies to water and wastewater service providers and waste collection and disposal firms. The increase in delinquency is 56%, or 42,4 billion rubles, compared to 27,2 billion rubles a year earlier.

Delinquency in the regions of Russia

In the context of the regions, the explosive growth (more than 6 times) of overdue debts to suppliers of goods and services was shown by Ingushetia: 12,7 billion against 1,9 billion rubles. The second in the anti-rating is North Ossetia-Alania with an increase of 186,2% in the amount of 18,6 billion rubles. Another Caucasian republic rounds out the top three regions — Karachay-Cherkessia — 12,8 billion rubles (+144,2%).

According to Andrey Movchan, this can be explained by various factors:

“Perhaps, this is due to the accessibility of bank financing. And in the North Caucasus Federal District, most likely, bank accessibility is worse," the source believes.

Another Russian economist, Nikita Krichevsky, believes that this could be a kind of loan, something in the form of an undeclared installment plan:

“I would not say that the North Caucasian Federal District has a low payment discipline or there is no money. There is a very strong personal responsibility for the commitments made. What the North Caucasus is — these are clans, friends, relatives, these are people who will not run away with money, will not steal them, the elders can vouch for them. This is an informal installment plan, an informal loan.

Among other regions, Khabarovsk Krai showed a high increase in overdue debt (+138%; from 9,9 billion rubles to 23,6 billion rubles) and Kaliningrad Oblast (+71%; from 3,3 billion rubles to 5,6 billion rubles).

In the Volga Federal District, the largest increase in delinquency is in Nizhny Novgorod Oblast — 62,9%. It grew from 32,6 billion rubles to 53,2 billion rubles. The second line — Perm Krai — “plus” 40,5%, debts increased to 32,3 billion. The third position — Saratov Oblast — 10,6 billion rubles (+31%).

Who in Tatarstan has not paid off suppliers and contractors?

Tatarstan against the background of Russian anti-records for the growth of overdue debt to suppliers of goods and services looks relatively stable region — 13,2 billion rubles (+5,3%).

But in our republic, the arrears of companies engaged in real estate transactions increased almost seven times — from 59,7 million to 414,3 million rubles. The management companies of the non-residential fund owed the most (+599,2%).

The coronacrisis also had a noticeable impact on the construction industry. The increase in overdue debts — 48,5%, the amount increased from 815,2 million to 1,2 billion rubles.

Among the manufacturing industries, companies engaged in the repair and installation of machinery and equipment have a noticeable dynamics of 74,4 million rubles (+80,1%). It was also a difficult year for those who are engaged in the production of finished metal products — 292,5 million rubles (+51,6%), as well as for food producers — 239,4 million rubles (+39,5%).

By Yevgeny Khramov
Analytics