Bashkiria's Government plans to reduce budget deficit

Olga Murtazina

UFA, 28 July 2016. /Bashinform News Agency, Olga Murtazina/. The Government of Bashkortostan plans to reduce the budget deficit in the next three-year period. Under the baseline scenario for 2017, revenues are planned in the amount of 114.1 billion rubles, expenditures - 123.6 billion, in 2018 - 116.8 and 125.8 billion, in 2019 - 120.3 and 128.8 billion rubles, respectively. Thus, it is planned reduction in the deficit by 500 million rubles a year, the Ministry of Finance RB reports.

In regard to the revenue part, in a three-year term, the main sources of the budget replenishment will be taxes – profit tax, personal income tax, property tax, excise taxes and taxes on use of state property. The republican Ministry of Finance pointed out that the tax burden will not increase, and therefore the calculation of property taxes on the cadastral value is "frozen". Therefore, the forecast on revenues is "moderate", and the main task of government agencies is to "to ensure fiscal sustainability and balance", according to a press release of the ministry.

#budget deficit #fiscal policy

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