Putin instructs cabinet to develop cost overrun risk criteria for regions for 2021
Russian President Vladimir Putin instructed the government to develop criteria of possible cost overrun by regions for 2021.
The relevant order was published on the Kremlin website following a meeting of the presidium of the State Council.
According to the order, the cabinet in cooperation with the working group of the State Council of the Russian Federation responsible for economic and financial issues, should develop criteria to define the possibility of exceeding the limit indicators of the budget deficit [by regions] and the amount of the regions’ public debt for 2021.
The order was given following the assessment of costs of implementing measures to overcome the consequences caused by the spread of the new coronavirus infection and their impact on the budgets of the regions.
The government should also develop criteria for non-application of measures of responsibility to regions for exceeding the limit indicators of the budget deficit and the volume of public debt, due to a decrease in tax and non-tax revenues of budgets and ensuring costs to overcome the consequences of the pandemic.
Prime Minister Mikhail Mishustin and the Governor of the Chelyabinsk Region Alexei Teksler, who are responsible for the project, must submit the corresponding report by January 15, 2021.
Source: https://tass.com/economy/1216621
The relevant order was published on the Kremlin website following a meeting of the presidium of the State Council.
According to the order, the cabinet in cooperation with the working group of the State Council of the Russian Federation responsible for economic and financial issues, should develop criteria to define the possibility of exceeding the limit indicators of the budget deficit [by regions] and the amount of the regions’ public debt for 2021.
The order was given following the assessment of costs of implementing measures to overcome the consequences caused by the spread of the new coronavirus infection and their impact on the budgets of the regions.
The government should also develop criteria for non-application of measures of responsibility to regions for exceeding the limit indicators of the budget deficit and the volume of public debt, due to a decrease in tax and non-tax revenues of budgets and ensuring costs to overcome the consequences of the pandemic.
Prime Minister Mikhail Mishustin and the Governor of the Chelyabinsk Region Alexei Teksler, who are responsible for the project, must submit the corresponding report by January 15, 2021.
Source: https://tass.com/economy/1216621