Subject Competent management of State and municipal debt, professional risk-management, properly arranged system of the public sector liabilities management contribute to budget management optimization, enable to devise and implement strategies for territories development, and stabilize financial markets. The study addresses the transition to the model of responsible debt management under crisis. Objectives The aims of the article are to study the model of responsible debt management of the entities of the Russian Federation and municipalities, and to work out guidelines for its development. Methods I analyze the basic principles of the responsible debt management model, and use the grouping technique to identify additional limitations of the debt size. Results To achieve the most efficient implementation of the responsible debt management model, it is required to ensure balanced planning when borrowing funds and debt servicing, competent management of assumed liabilities and commitments, sophisticated debt management and organization of interactions with creditors. Conclusions and Relevance The reduction of debt burden on State and local budgets of the Russian budget system through practical implementation of the responsible debt management model depends on observing the additional restrictions on the amount of borrowings. The performed analysis of the principles that influence the choice of specific debt instruments may be useful in practical budget planning and execution, and control over budget balance.
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