21:36, 9 January 2017

Chechnya's budget formed with deficit of 8.5 billion roubles

Argun City. Photo by Magomed Magomedov for the "Caucasian Knot"

After consultations with Moscow, the draft republic's budget for 2017 has been formed with a deficit of 8.5 billion roubles, said Usman Rassukhanov, the Finance Minister of Chechnya.

The "Caucasian Knot" has reported that at the end of 2016, the Kremlin refused to reduce subsidies to Chechnya. In 2017, according to the amendments endorsed by the State Duma Committee, the financing of Chechnya (apart from the subsidies and subventions due to the republic along with other regions) will make 40.4 billion roubles.

On October 31, 2016, the head of Chechnya, Ramzan Kadyrov, said that his republic was not happy with the plans of the Federal Ministry of Finance (MoF) to reduce the region's budget.

Minister Rassukhanov has added that the government plans to finally justify the Chechen budget by February 1.

Let us remind you that on November 1, 2016, Kadyrov postponed adoption of the budget.

The experts, interviewed by the "Caucasian Knot", have stated that Kadyrov's desire to suspend the agreement signed with the MoF on the reduction of subsidies to Chechnya was caused by his inability to enforce it.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.