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Prime Minister says Russian regions’ budget deficit will halve by 2019

December 28, 2016, 13:51 UTC+3

The financial aid to prop up Russian regions will be increased by 9% in 2017

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MOSCOW, December 28. /TASS/. Russian regions’ budget deficit will go down almost twofold by 2019 compared with 2016, Prime Minister Dmitry Medvedev said Wednesday.

"As a result the situation around regional budgets is going to improve on the whole. Their total deficit is to decrease almost twofold by 2019 compared with this year," he said.

The financial aid to prop up Russian regions will be increased by 9% to 1.6 trillion rubles ($26.4 bln) in 2017, Medvedev said.

"Next year the aid to regions will be increased by around 9% compared with this year, which has been quite challenging within a tough budget. The total amount of inter-budget transfers is planned at the level of 1.6 trillion rubles," he said.

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