Bashkiria turns from granting preferences towards improving fiscal discipline policy - expert

UFA, 2 March 2017. /Bashinform News Agency, Gulfiya Akulova/. The Head of Bashkortostan Rustem Khamitov at the "Sochi" Russian Investment Forum analyzed in his speech the practice of economic incentives applied in the region from the part of the Government, political analyst Vladimir Savitchev shared with Bashinform News Agency.

"Rustem Khamitov marked a change from the broad practice of benefits granting to economic entities to more focused efforts on fiscal discipline improvement. He noted in his speech that "regions are not quite able so far to manage incomes in terms of significant impact on the tax process". However, the task of budget replenishment is a key one in successful development of the region. Given that that privatization of large economic assets will be continued as marked in the speech, it is very important to find models of interaction with owners of these enterprises. Previous formats of direct administration cannot be longer used. Thus, in order to improve the budget revenues, new approaches to industrial, social, investment policy should be developed", the expert underlined.