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Yakutia’s investment program gets $1.8 million boost

July 03, 2017, 16:41 UTC+3 YAKUTSK
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YAKUTSK, July 3. /TASS/. Yakutia’s investment program for the current year (2017) has jumped by 105 million rubles ($1.8 million) to 18.2 billion ($313 million), the region’s First Deputy Prime Minister and Minister of the Economy, Alexey Struchkov, stated at a government meeting on Monday.

"The investment program for 2017 has risen by 105 million rubles in subsidies from the federal budget for construction of roads; and here we have also considered the redirection of funds within the republic’s budget," he said. "Thus, the investment program is for 18.2 billion rubles, while the region’s resources make up 14.6 billion rubles ($252 million), the money from the federal budget comes to 3 billion rubles ($52 million), and the non-repayable investments total 525 million rubles ($9.1 million)."

Thus, the republic could restore the funds for its program My Yakutia in the 21st Century on construction of social facilities in villages. Under the investment project, Yakutia plans to offer at least 600,000 square meters of housing a year, finalizing the resettlement of residents from antiquated, run-down housing, in addition the republic will open 62 social facilities.

The investment program for 2018 and 2019 has also increased by a total of 762 million rubles ($13 million) thanks to the restructuring of the region’s budget, a rescheduling of the expenses and the use of non-repayable investments from private companies, the official noted. "In 2018, Yakutia’s investment program will come to 6.2 billion rubles ($107 million), and in 2019 - 5.7 billion rubles ($98 million)."

Earlier reports were that the republic’s investment programs for 2018 and 2019 had been valued at 5.4 billion rubles ($93 million) and ($100 million) respectively, where 95% is the republic’s own assets. That said, Yakutia’s revenues in 2017 total 171.3 billion rubles ($3 billion), while the region’s budget expenses for 2017 is 177.7 billion rubles ($3 billion), the deficit is 6.3 billion rubles ($109 million).

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