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Crimea’s State Council doubles republican budget to 11 billion hryvnias

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Russian ruble announced Crimea’s official currency

SIMFEROPOL, March 17. /ITAR-TASS/. Crimea’s State Council has doubled republican budget from 5.4 billion hryvnas (around $568.4 million) to 11.5 billion hryvnas (around $1.2 billion). The republican State Council has adopted a resolution on making changes in the budget at its extraordinary meeting on Monday.

According to the document, budget revenues increased from 5.38 billion hryvnas (around $566 million) to 11.48 billion hryvnas (around $1.2 billion), expenditures grew from 5.27 billion hryvnas (around $554.6 million) to 11.38 billion hryvnas (around $1.2 billion).

According to an addendum to the resolution, the VAT tax that had earlier been transferred to Ukrainian state budget will remain in Crimea starting from March 17. Before the end of this year the republican State Council planned 2.36 billion hryvnas (around $248.1 million) of VAT tax revenues.

Russia’s financial aid to Crimea is also planned at 4 billion hryvnas (around $421 million).

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