Russian Ministry of Finance fails to support NCFD development programme because of its high cost

The Ministry of Finance (MF) of the Russian Federation has refused to agree on the state programme "Development of the North-Caucasian Federal District (NCFD) for the period up to 2025" in the amount of 3.9 billion roubles, as the Ministry of Regional Development proposed.

"We do not agree on the programme with this amount, all will be done within budget," announced Tatiana Nesterenko, Deputy Finance Minister of the Russian Federation, today at the session the government commission on economic and social development of the North Caucasus, which was held in the city of Kislovodsk.

The Ministry of Regional Development proposed to allocate 3.9 billion roubles for the NCFD development state programme, including 2.6 billion roubles – from the federal budget. The Deputy Finance Minister of the Russian Federation said that "it was unrealizable" and that "such approaches cannot be seriously discussed", the "RBC" reports.

Speaking about the announced funding for the programme, Ms Nesterenko said that "they were far beyond the budgeted allocations" and explained that "any government programme should include legal regulation of the scope of activity" and that the MF "had originally questioned if there might exist a separate legal regulation for the North Caucasus, the RIA "Novosti" reports.