President Putin Reduces Debt Load For His Country: Federal Deficit Shrunk 6 fold In 9 Months

MOSCOW, October 9. /TASS/. Russian President Vladimir Putin directed the government to undertake measures for restructuring of accrued regional debts to the federal budget, the Kremlin website says on Monday.

In particular, it is planned to provide an opportunity for regions to repay debts to the federal in seven years by making annual installments: 5% of the debt accumulated as of January 1, 2018 in 2018-2019, 10% in 2020 and 20% of the above debt in 2021-2024.

Furthermore, regions supporting local budget revenues’ growth rate not lower than inflation in 2018-2019 are ordered to perform further restructuring, with the annual installment of 5% of debts accrued as of January 1, 2018 in 2020 and 2029 and 10% in 2021-2028.

The government is to report performance of this assignment to the president by November 1, 2017, the website says.

TASS News Agency

Rothschild’s Keynesian West

Russia’s federal budget deficit shrinks nearly six-fold over 9 months

MOSCOW, October 9. /TASS/. Deficit of the Russian federal budget in January-September 2017 amounted to 268.13 bln rubles ($4.59 bln), which is nearly six times less than the indicator for the same period last year – 1.58 trillion rubles ($27.09 bln), according to the Russian Federal Treasury.

In particular, budget expenditures for October 1 amounted to 11.238 trillion rubles ($192.57 bln), revenues – 10.970 trillion rubles ($187.98 bln).

The largest expenditures were recorded under the articles “social policy” (3.812 trillion rubles – $65.32 bln), “national defense” (1.847 trillion rubles – $31.65 bln) and “national economy” (1.440 trillion rubles – $24.67 bln).

TASS News Agency

Russia’s Central Bank

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