State loans: their types and significance for the development of the national economy

State loans are represented by a structure of interrelated elements and species. So, depending on the status of borrowers, the following types of loans can be distinguished : centralized and decentralized. The first variety is represented by government securities issued by the government through the Ministry of Finance. State loans of the second type are based on the issue of securities by local authorities and are the main structural element in the financial system of regional self-government. With the help of these funds, it becomes possible for local governments to carry out activities to develop a particular region. That is why the decentralized state loan of 2013 has all the prerequisites for using it as the main financial tool with the help of which the development of the national economy can be carried out.

The issuer is obliged to issue all the necessary information about the financial and economic situation. The use of this information enables potential investors to decide on the acquisition of such securities. The importance of public credit is explained by the effectiveness of its use. At the same time, the main subjective factor is considered to be the level of qualification of the personnel responsible for organizing the placement of these bonds.

Depending on the object of placement, there are such state loans: internal and external loans. The first type of borrowed funds is placed on the territory of the state in the national currency. The definition of external loans involves placing them in foreign currency abroad. It should be noted that non-residents also have the opportunity to purchase domestic government loans.

The state has the right to make loans in credit institutions of international level, as well as foreign banks.

Depending on the maturity of debt obligations, the government can allocate short-term, medium-term and long-term loans. So, a short-term loan implies its registration for a period of up to one year, a medium- term loan - up to five years, and a long- term loan - from five years.

There is another classification of government loans, based on the types of their returns:

- interest, assuming the receipt by their owners of income in the form of certain dividends;

- discount - sale of securities of state value is carried out at prices below their nominal value ;

- winning - the implementation of these securities is carried out without fixing interest, and their holders will receive an income only if the specific number of the bond is included in the circulation of redemption, which implies a win.

A special place in the system of crediting and financing is allocated to state lotteries (holding a lottery of money or property using tickets purchased for a fee).