Sverdlovsk Region: Budget 2018-2020 To Go Along Business-As-Usual Scenario

UrBC, Yekaterinburg, September 27, 2017. Sverdlovsk Region’s Finance Ministry started coordinating budget committee meetings in order to look into local governments’ proposals as to the constituency’s budget for 2018, Sverdlovsk Region’s Information Policy Department reports.

According to Sverdlovsk Region’s First Deputy Finance Minister Svetlana Klimuk, all the forecasts as to tax-related and non-tax-related budget inflow in 2018-2020 are based on the business-as-usual economic scenario, which means a moderate growth of both industrial production output and workers’ pay.

As for inter-budgetary schemes, the simplified tax system 15% tax has been given to local budgets for the third year in a row now; the goal is to keep the local budgets balanced and to make them more financially independent.

This year, since two changes have been made in the current Sverdlovsk Region Budget legislation already, local budgets will receive over RUR 86bn in transfers (compared with RUR 50.1bn in 2012 and RUR 76,6bn in 2016).


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