The volume of revenues of the regions assessed in the trillions of rubles

Deputy Chairman of the counting Board of the Russian Federation Galina Izotova does not exclude that the lost revenues of the Russian regions in 2020 may exceed 2 trillion rubles. She stated this today in Kostroma at the visiting session of the Federation Council Committee on budget and financial markets.

“On the basis of the analysis of the information provided 79 subjects, we can predict that the volume of revenues of the regions will be in 2020 more than 2 trillion rubles,” — quoted PRIME Deputy head of the controlling Agency.

In her view, need to “consider providing the additional subjects of the Russian Federation of interbudgetary transfers, including subsidies to ensure their fiscal sustainability and balance”.

Recall that in mid-June, Russian Deputy Prime Minister Marat Khusnullin said that the Russian government until July 15 of the current year will allocate regions of 100 billion rubles for compensation of lost income. According to him, “the analysis of all the lost income will be undertaken as at 1 July, then to 15 July, all regions should get this help.”

Earlier in the same month, Prime Minister of the Russian Federation Mikhail Mishustin said that the Russian authorities will allocate additional funds for the development of problematic regions. He assured that the authorities continue to “support the ten most problematic regions of Russia, each of them has developed an individual program of social-economic development in 2020-2024 years, taking into account local specifics and possible points of growth”.

Before the money was allocated for the implementation of such a program in the Kurgan region. Now we are talking about “the remaining nine regions” is the Republic of Altai, Tyva, Karelia, Mari El, Adygea, Kalmykia, Chuvashia and Altai Krai and Pskov oblast, listed head of government.

He said that “the total amount of budgetary allocations on the implementation of the programs within three years will exceed 26 billion rubles”. Money, in particular, “will go on development of social, transport and engineering infrastructure to support agricultural industry, the construction of new enterprises, modernization of housing and communal services”.

meanwhile the income of about one third of Russian regions fell due to the epidemic coronavirus infection COVID-19. To such conclusion experts of the Ranepa and IEP name of Gaidar. So, in January—April 2020 total revenues in the budgets of constituent entities decreased by 1.2%. At the same time, stated the newspaper “Izvestia”, the biggest blow came in April, the revenues declined by 20.9%. This month’s quarantine greatly subsided revenues from taxes on profits, aggregate income and property. And profit from personal income tax in the moment and all have shown record low levels over the past two decades.

according to experts, losses of regions could be larger if not for Federal assistance.

we also Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

2 Jun Mishustin briefed President Vladimir Putin a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. On 19 June the head of state was sent the updated draft of the plan.

July 2, Deputy Minister of Finance of the Russian Federation Vladimir Kolychev said that the total cost of the measures (the bailout package), aimed at combating the spread of coronavirus infection in Russia and mitigating economic impacts from restrictions imposed, estimated to be worth overlot 4 trillion. According to him, the main focus of the budget measures were made on several fronts: strengthening health systems, supporting citizens and businesses, the balancing of regional budgets.

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