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Regions' budget deficit might exceed 900 billion rubles in 2014 — minister

April 16, 2014, 16:00 UTC+3 MOSCOW
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MOSCOW, April 16. /ITAR-TASS/. Economic Development Minister Alexei Ulyukayev has warned that regional budget deficit might exceed 900 billion rubles this year.

"We know the acute situation which has developed. Last year, budget deficit in provinces reached 640 billion rubles, while this year it might reach a total of 900 billion rubles," Ulyukayev said, calling for adjustment of federal budget's co-funding of regions' work. "The regions' total liabilities make up $1.8 trillion and are continuing to grow."

"In this connection, we must be ready to cut the co-funding of infrastructure programs by regions," Ulyukayev noted.

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