Bashkiria budget is planned with 20 billion rubles deficit for 2019

UFA, 23 August 2018. /Bashinform News Agency, Elvira Latypova/ translated by Tatiana Aksyutina/. The budget of Bashkortostan for the next three-year plan is planned to be formed with an increased deficit. In 2019, expenses will exceed revenues by 20 billion rubles. This was announced today at a meeting of the Government RB by the Prime Minister Rustem Mardanov. The increase in the deficit is connected to the planned acceleration of socio-economic development, which will require much more funding of expenditures in priority areas.

In particular, according to Rustem Mardanov, "high volumes of the Republican Targeted Investment Program will be maintained - at the level of 20 billion rubles", a road fund will grow by 1.5 billion rubles (up to 18 billion rubles). The co-financing of priority federal projects will require more spending too.

Acceleration is stipulated by the main parameters of the Social and Economic Development Forecast of Bashkortostan for 2019-2021 adopted following the meeting.

"In accordance with a basic scenario of the forecast, it is expected to reach gradually the targets of Strategy-2030 and outperforming growth rates", the Prime Minister said.

The key indicator - the gross regional product - is set forth ahead of 2019 (102.2%). Agriculture and trade will show good rates, the Prime Minister believes. At the same time, industrial, investment, real disposable income and unemployment targets are difficult to achieve. In order to improve these falling behind areas, it is suggested to accept one more document as a basis - a Comprehensive Plan for Advanced Socio-Economic Development.

This document has four sections: "Human Capital", "Real Sector", "Balanced Development of Territories" and "Public Administration". The increased deficit is planned in the budget taking into account the activities of the new document.

The Head of Bashkortostan Rustem Khamitov proposed to approve the Comprehensive Plan, having noted that the planned events were supported with funding. He considers the budget as “quite good” in general. Moreover, the real deficit will be less "issuing from the fact that new national projects are being prepared, most likely additional federal resources for 12 federal projects will be allocated".