As part of the budget process

Work on the main financial document of the year came to an end. The Law "On the Republican Budget for 2017" was adopted by the Supreme Council in the third and final reading. Chairman of the government Alexander Martynov thanked the deputy corps for prompt and active work on the document. The prime minister recalled that the draft budget for 2017 was presented for the Supreme Council with a huge deficit on socially protected items, which did not guarantee the payment of wages and pensions in full. A joint group was created to remedy the situation, in early 2017, which included representatives of the Supreme Council, the Government, and the Accounting Chamber. The Supreme Council received More than a hundred amendments for consideration.

A number of sources for paying off the deficit were found to realize the task. So, from July 1, deductions from payments to the Environmental Fund, at a rate of 20%, will be made to the republican budget. 30% of the Road Fund will be redirected. Funds will be used to finance socially protected articles. Previously, it was also proposed to redirect 50% of the tax on housing and social services for this purpose. However, in the mode of consideration of the draft budget-2017 in the second reading, the parliamentarians decided to leave these funds in the jurisdiction of municipalities. They will be used as a reserve, which will be used if there are not enough funds to pay salaries and pensions.

As a result, revenues of the consolidated budget are planned at a rate of 2.394 billion rubles, expenses will amount to 4.562 billion, including 2.991 billion on socially protected articles. To pay off the budget deficit resorted to the means of the traditional source, as well as to external borrowing.

The Law "On the Republican Budget for 2017" was adopted by the Supreme Council in the third and final reading. In the near future, it will be sent to the president for signature. After the official publication, the main financial document of the year will come into force. In the course of the plenary session, Alexander Martynov was informed of the deputy corps that at present the Government begun to draft budget for 2018, and work on the budget strategy of the state for the next three years is also continuing.