The budgets of Russian regions are expected to have a deficit in 2023-2024
The Ministry of Finance expects a deficit in the budgets of the regions in the next two years. This follows from the draft main directions of the budgetary, tax and customs-tariff policy for the next three years.
“The Ministry of Finance expects the execution of the consolidated budgets of the regions in 2022 with a surplus of 163 billion rubles, and in 2023-2024 with a deficit of 132.5 billion rubles and 78.1 billion rubles, respectively,” Vedomosti writes with reference to the document . According to Associate Professor of the Department of Corporate Governance and Innovation of the Russian University of Economics. GV Plekhanov Maxim Maksimov, the budget deficit in the next two years will be due to “growing costs, including for regional development programs.”
However, already for 2025, the ministry is already setting a small surplus – at the level of 6.8 billion rubles. To support the regions at the federal level, a number of measures have been taken that will allow them to quickly respond to the current situation and take measures to support the economy, recalled the representative of the Ministry of Finance.
Earlier, the Ministry of Finance of Russia proposed re-distribute by region tax on profits of companies with separate subdivisions. The department proposed to exclude the wage fund from the calculation formula. It is noted that regions where production is located and wages are low can benefit from the measure.
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The Ministry of Finance expects a deficit in the budgets of the regions in the next two years. This follows from the draft main directions of the budgetary, tax and customs-tariff policy for the next three years. “The Ministry of Finance expects the execution of the consolidated budgets of the regions in 2022 with a surplus of 163 billion rubles, and in 2023-2024 with a deficit of 132.5 billion rubles and 78.1 billion rubles, respectively,” Vedomosti writes with reference to the document . According to Associate Professor of the Department of Corporate Governance and Innovation of the Russian University of Economics. GV Plekhanov Maxim Maksimov, the budget deficit in the next two years will be due to “growing costs, including for regional development programs.” However, already for 2025, the ministry is already setting a small surplus – at the level of 6.8 billion rubles. To support the regions at the federal level, a number of measures have been taken that will allow them to quickly respond to the current situation and take measures to support the economy, recalled the representative of the Ministry of Finance. Earlier, the Russian Ministry of Finance proposed a new distribution of income tax for companies with separate subdivisions by region. The department proposed to exclude the wage fund from the calculation formula. It is noted that regions where production is located and wages are low can benefit from the measure.