Post sponsored by NewzEngine.com

MIL OSI Translation. Region: Russian Federation –

December 22, 2021, 16:00

Share this

Photo by M. Denisov. Mos.ru

Social expenditures were increased by nine percent, including the indexation of wages and social benefits.

In 2021, budget revenues are expected to grow by more than 20 percent compared to the pre-crisis level of 2019, said Sergei Sobyaninduring the annual report on the work of the Moscow Government before the deputies of the Moscow City Duma.

“The budget of Moscow is stable and balanced. And this allows us, without slowing down, to continue the implementation of the city development program and improve the quality of life of Muscovites, ”he said.

The 2022 budget will maintain a social focus. An increase of nine percent is envisaged in spending on the social sphere, including funds for the indexation of wages of public sector employees and social benefits. The development budget has also been increased and accounts for about 40 percent of the expenditure side of the budget.

“This year, economic recovery has fully compensated for the damage. In 2021, budget revenues are expected to grow by more than 20 percent compared to the pre-crisis level of 2019, said Sergei Sobyanin. “Nevertheless, the budget remains in deficit, but we expect to close it without new loans.”

It is assumed that in 2022-2024 budget revenues will grow by 5.2-5.6 percent annually. The increase will occur in all major sources of income, which directly depend on the results of economic activity. These are corporate income tax, personal income tax, and special tax regimes for small businesses.

90 percent of the budget expenditure will be directed to priority city programs that relate to the development of health care, education, transport system, cultural and tourist environment and preservation of cultural heritage, social support and others.

All existing measures of direct financial support for industrial enterprises, small and medium-sized businesses will also be preserved, and programs for the renovation of housing and industrial zones will continue.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI Russia News