The agreement to support the Kostroma region was reached at a meeting of the head of the region Sergei Sitnikov with the Minister of Finance Anton Siluanov, according to a press release from the regional government.
MOSCOW, 24 Nov –. Kostroma region is one of the seven subjects of the Russian Federation, which the Ministry of Finance will provide additional financial aid, according to a press release from the regional government.
“The measures taken by the administration of the Kostroma region to reduce public debt and increase the revenue base of the regional budget, praised at the Federal level. The region is one of the seven subjects of the Russian Federation, the Ministry of Finance will provide additional financial aid”, — stated in the message.
The agreement to support the Kostroma region was reached at a meeting of the head of the region Sergei Sitnikov with the Minister of Finance Anton Siluanov.
By the end of this year the Ministry of Finance will provide the area in the form of additional subsidies for balancing budget 732,1 million rubles, which will be aimed at fulfillment of social obligations.
In addition, the Ministry of Finance adopted the decision on granting of the Kostroma region budget of the additional credit for a total amount of 5.6 billion rubles, of which 5.1 billion rubles will be allocated for the replacement of commercial loans that the country attracts in the banks.
“Currently the Governor of the Kostroma region, the regional administration is actively working to reduce state debt and prevent further growth. In 2015 with the support of the Ministry managed to keep the deficit of the regional budget at the same level. In 2016 it is planned to reduce the deficit to stop the increase of the national debt. By 2019, the aim is to raise the level of public debt at the level of 100% of tax and non-tax revenues”, — stated in a press release.
As added in the press service, currently between the Finance Ministry and the regional administration concluded an agreement in which the region undertakes to prevent growth of public debt and its gradual reduction and the Ministry of Finance provided financial assistance in this direction. The work performed will allow to save on debt service more than 720 million rubles a year.
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