Contents tagged with financing

  • Media: Russia plans to cut financing for the Arctic development program by 75 percent

    The Russian Ministry of Economic Development proposed that the expenditure on the state Arctic development program be reduced from 209.7 billion rubles ($3.6 billion) to 50.9 billion, which will mean the exclusion of a number of infrastructural projects from it. This was reported by the RBC, citing a participant in a meeting on the socioeconomic development of the Arctic zone held by Russian Prime Minister Dmitry Medvedev on April 14.

    The department is proposing to downsize the program between …

  • Russia cut financing of the Crimea by 1.5 billion rubles

    On March 22nd, the Russian Parliament in the annexed Crimea approved amendments to the budget for 2017 which will reduce the revenues and expenditures of the peninsula’s budget by 1.55 billion rubles (27 million USD). The budget bill was published on the official website of the Crimean Parliament.

    As reported by Kryminform, the Minister of Finance of the peninsula, Irina Kiviko, said during a committee meeting that "this amount is approved, less the receipts under the federal target program." …

  • Russia Spend €1 Billion per Year on State Salaries and Pensions in DPR and LPR

    An investigation conducted by the German magazine, Bild revealed that Russia spends about 1 billion Euros on the salaries and welfare of citizens of the self-proclaimed Donetsk and Luhansk People’s Republics. According to Bild, this amount corresponds to 0.6% of the annual expenses of the Russian budget.

    Moscow spends nearly 79 million Euros every month on salaries of state employees and pensions in so-called DPR and LPR, Bild wrote. About 2.4 billion Rubles (approximately 30 million Euros) …