State Assembly of Bashkiria adopted budget execution law

The State Assembly of Bashkiria adopted a law on the execution of the regional budget for 2022.

The main parameters for the execution of the Republican budget for 2022 were presented at a parliamentary meeting by the Deputy Prime Minister of the Government - Republican Minister of Finance, Lira Igtisamova.

As the vice-premier emphasized, last year's budget policy focused on ensuring financial stability.

“The accumulated margin of safety, the coordinated work of all branches and levels of government, and the assistance of the federal center made it possible to ensure a balanced budget, to fulfill all priority and socially significant spending obligations strictly,” said Lira Igtisamova.

Thus, revenues amounted to 280.6 billion rubles, of which tax and non-tax revenues came in 181.3 billion rubles, with an increase of 15.1% compared to 2021. Grant receipts increased by 10.9 billion rubles and amounted to 99.3 billion rubles.

Despite the difficult economic environment associated with sanctions pressure, at the end of 2022, there was a positive trend in the expenditure side of the budget. Expenses last year increased by 40.1 billion rubles compared to 2021 and reached 295.3 billion rubles.

The public debt amounted to 38.4 billion rubles.

The republic's credit rating has been affirmed by the credit rating agency Expert RA at ruАА+ with a stable outlook, the press service of the government of Bashkiria added.

As Bashinform News Agency reported, the Ministry of Finance of Bashkiria will borrow 5.5 billion rubles from foreign markets.

5.5 million Bonds worth 1,000 rubles each will be placed on the Moscow Exchange from July 4. State registration number of issue RU34013BAS0.

The circulation period is three years or 1092 days, and each bond has 12 coupon periods of 91 days. The percentage is determined by the issuer based on the analysis of offers. The maturity date is June 30, 2026.

Government bonds are a traditional way of raising finance. Bashinform News Agency regularly reports on coupon income payments on bonds of various issues.

Author: Galina Bakhshieva