Moscow’s budget will exceed 1.5 trillion rubles annually until 2018. The main objective is to ensure the stable operation of the city and realization of city and state programs.
MOSCOW, 21 Oct. The city Duma adopted in the first reading the law on the budget of Moscow for 2016 and the planning period of 2017 and 2018.
The costs of Moscow’s budget will exceed 1.5 trillion rubles annually until 2018, about 90% of them will be directed on realization of the state programs. The main task of fiscal policy is to ensure the stable operation of the city and systematically implement the goals of city and state programs. The draft budget provides for the priority of social spending, ensures the implementation of all social obligations.
According to the head of the Department of Finance Elena Zyabbarova, despite a projected positive trend, taking into account all economic and legislative risks the Moscow authorities do not factor in the budget increase in income from income tax and form volumes at the expected level of assessment 2015.
“Overall revenue growth will be 2.2% in 2016, 3% in 2017 and 2.8% in 2018,” said She.
The budget deficit of Moscow in 2016 is expected to amount to 48 billion rubles, said earlier the mayor of Moscow Sergey Sobyanin. The volume of tax revenues in the budget of Moscow in 2016 will grow by 4.1% to 1,433 trillion rubles, said in early October She. Of them on the social policy will be spent 880 billion rubles, and taking into account deductions for mandatory health insurance the amount will reach about 1 trillion rubles.