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Friday, July 30, 2021

The deficit of regional budgets will increase this year to 700 billion rubles

Photo: Sergey Lentyugov/NEWS.EN

The Ministry of Finance of the Russian Federation expects in 2020, the deficit of regional budgets at the level of 700 billion rubles, and in 2021 — about 500 billion, according to first Deputy Finance Minister Leonid Gornin.

The revenues of the consolidated budgets of regions will be 13.7 billion rubles, which is even 1% more than last year. Forecast expenditure 14.5 trillion rubles, or 7% compared to last year. The deficit, therefore, will be about 700 billion rubles, — announced The “News” Gornin.

He added that in the first eight months of the current year the consolidated budgets of the RF subjects lost about 0.5 trillion rubles of its own income compared with the same period last year. But the situation with the rate of decline has stabilized. According to him, the gap between revenues and expenditures can be covered by reserves of entities — now there accumulated the remains of nearly 2 trillion roubles.

Wrote NEWS.ru public debt of the regions by the end of 2020 will increase by approximately 300 billion rubles, while in 2021 the rate of growth of public debt needs to slow down. Now the total liabilities of regions — of 2.15 trillion rubles, or 22.5% of the amount of own revenues, explained Gornin. However, he noted that the Budget code allows exceeding the level of the national debt and budget deficit, in certain cases, for example, when dealing with a coronavirus, and some of the governors are willing to increase the national debt.

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