Russia: The expenditure budget of Nizhny Novgorod will be increased

Nizhny Novgorod budget for 2014-2015 has been revised. Its expenditure part will be increased.

29.Jul.14 1:37 PM
By Borisov Sergey
Photo Toinnov.com

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Russia: The expenditure budget of Nizhny Novgorod will be increased

A session of the Nizhny Novgorod region Legislative Assembly has taken place on the 24th of July. The main aim of this session was to accept changes in the law concerning regional budget for the 2014, 2015 and 2016. Minister of Finance in Nizhniy Novgorod region Olga Sulima made her report during this session.

According to her report Ministry of Finance is planning to increase budget revenues of Nizhny Novgorod region by 115 228 300 rubles. At the same time expenditure part of the budget will also be increased by 115 212 500 rubles. That is why it is necessary to make changes in regional budget due to the fact that expands on federal financial actions have been increased. This also includes costs that are spent on agriculture.

Ministry of Finance also predicts lower level of income that will get to the regional budget. Part of this income goes to traffic fund. Olga Sulima is sure that it is necessary to correct main parameters of budget for 2014. The budget income is planned to be 118 billion 534 billion rubles while expenditure part will be 134 billion 348 million rubles. The deficit is 15 billion 813 million rubles. Minister of Finance has also noted that dedicated revenues from the federal budget have also increased. Most of them are forwarded to support different federal programs including construction of M7 highway in Nizhny Novgorod region.

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