Regions will be allowed to allocate up to 5% of their budget loan debt to local investment projects
18.11.2019The Russian State Duma in the second reading of the draft federal budget will consider an amendment allowing the constituent entities of the Russian Federation to allocate up to 5% of the amount of their budget loan debt for the implementation of investment projects, this will count towards the repayment of their debts.
"The goal is to allow regions to invest [for implementation of investment projects] 5% of the funds they would have had to repay to the federal budget," First Deputy Chairman of the Russian State Duma Alexander Zhukov said. If the investment projects are not implemented, the regions will have to reimburse the borrowed funds.
News link: TASS
You & Partners Press Service
Information contained on this web page is intended solely for personal use and shall not be subsequently reproduced and/or distributed without a reference to You & Partners