Parliamentarians adopted the Bashkiria budget 2015-2017 in the first reading

UFA, 31 October 2014. /Bashinform News Agency, Elvira Latypova/. The draft budget of Bashkortostan for 2015-2017 years is adopted in the first reading at the meeting of the State Assembly – Kurultay RB on October 30. According to the document, the republican budget deficit is projected at 14 billion rubles in 2015, at 11 billion rubles in 2016, at 10 billion rubles in 2017.

Revenues are forecasted at 114.9 billion rubles in 2015, at 122.4 billion rubles in 2016, at 119 billion rubles in 2017. Spending is projected at 128.9 billion rubles in 2015, 133.4 billion rubles in 2016, 129 billion rubles in 2017.

The budget deficit will be funded by the reserve fund of the Republic, proceeds from the sale of state-owned shares, the remaining balance of the republican budget, repayment of budget loans, as well as banking loans and bonds.

The state debt is expected within 29 billion rubles in 2016 and in subsequent years. According to the Minister of Finance RB Rida Subkhankulova, the debt level remains low according to the international and Russian standards; the debt will not exceed 30 percent of tax and non-tax revenues.

“The main goal of fiscal policy in the next three years will be to balance the budget and to fulfill our liabilities unconditionally”, Rida Subkhankulova said.