Consolidated Transnistrian budget for 2018 has a deficit of 43%

The consolidated budget of the Transnistrian region for the next year provides for revenues of 2.4 billion Transnistrian rubles, an increase of 1.7% compared with the projections for this year, and for a total expenditure of 4.2 billion rubles, 10% down on 2017. Thus, the deficit is of 1.8 billion rubles or 43%. The draft budget was finalized by the Transnistrian executive and is to be submitted to the supreme soviet for examination, IPN reports.

The local press reported that for the first time after a long period, a significant part of the budget spending will go to develop the social, education and health infrastructure.

Transnistrian minister of finance Irina Molokanova said the deficit will be covered with financial resources from the special account “for gas” and with the financial assistance provided by Russia.

As regards the so-called “state” budget for 2018, this provides for revenues of 1.5 billion rubles and for an expenditure of 3.7 billion rubles. 72% of the spending was earmarked for social protection.

Irina Molokanova also said that the budget was drafted taking into account the projected economic growth of 7% and the amendments made to the fiscal legislation, which will take effect as from next year.

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