Oleg Vasilaty, “Budget expenditures 2020 must be brought to incomes that the republic can count on in the current conditions”.

Budget expenditures for 2020 must be brought to incomes that the republic can count on in the current conditions. Relevant legislative initiatives to redistribute income and reduce costs were developed by a group of deputies of the PMR Supreme Council. Amendments and additions are planned to be introduced into the law “On the republican budget 2020” and the law “On the budget of the Unified State Social Insurance Fund 2020”.

According to Chairman of the Committee on Economic Policy, Budget and Finance Oleg Vasilaty, negative events for the economy began to appear at the beginning of the year. This is the devaluation of the Russian ruble, quarantine measures due to the coronavirus pandemic, the shutdown of enterprises and the closure of borders in Europe, and then in Pridnestrovie, the death of crops from drought and frost. All this leads to lower revenues of the republican and local budgets.

In addition to social benefits, legislative initiatives of deputies will help to continue financing a number of other important spheres. For example, state targeted programs in health care, restoration of the reclamation system and the implementation of Government support measures for citizens and businesses.

According to Oleg Vasilaty, cost reduction and income redistribution will reduce the budget deficit by 500 million rubles. This is money from the Capital Investment Fund (100 million rubles), funds that were earmarked for financing new target programs, the Road Fund program, sanatorium-resort treatment, suspension the work of the Investment Agency and reducing the costs of the State Management Company.

The proposals of the group of deputies were considered in the course of the meetings of the Presidium of the PMR Supreme Council. Legislations on amendments to the laws “On the republican budget 2020” and “On the budget of the Unified Fund of Social Insurance 2020” will be discussed with representatives of the Government to develop a common solution.