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Federal road fund transfer to regional funds to reach $2 billion in 2015 - minister

September 15, 2014, 10:00 UTC+3 MOSCOW
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MOSCOW, September 15. /ITAR-TASS/. The transfer from the federal road fund to regional road funds will reach 91 billion roubles ($2 billion) in 2015, Russian Finance Minister Anton Siluanov told reporters on Monday.

According to him, the government made a decision to transfer to regions for the road funds’ replenishment 100% of revenues from excises on oil products. Part of them had earlier been transferred to the federal budget.

“We will transfer 73 billion roubles in 2015. The revenues lost by the Russian constituent entities from the tax manoeuvre amount to 164 billion roubles,” Siluanov said. “The difference of 91 billion roubles will be the transfer from the federal road fund to the regional funds,” he added.

The problem with the road funds’ replenishment arose due to a large-scale tax manoeuvre in the oil industry.

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