Crimean Ministry of Finance: as of October authorities have used only half of the funds allocated by Kremlin
The consolidated budget expenditures from the annexed Crimea exceeded 77 billion rubles (more than $1.3 billion), which is 44.5% of the annual budget, as reported by the Crimean Ministry of Finance’s press service, which is controlled by Russia.
"Our analysis for January-August showed that if the growth of 2016 over 2015 was more than 9 billion rubles ($156.1 million), then those of 2017 as compared to 2016 would already be 17.4 billion-($301.9 million)," the press service published the information provided by the head of the department, Irina Kiviko.
According to her, for the fiscal period, 41.9 billion rubles (more than 18.8 billion UAH- $726.9 million) were allocated for social financing and 18 billion rubles (over $ 312.3 million) for education.
In August, the Russian Ministry of Finance reported the consolidated budget for the Crimea increased 15.3 billion rubles (over $ 225.4 million) during the first seven months of 2017 as compared to the same period last year.
According to the Deputy Minister of Economic Development of Russia, Sergei Nazarov, Russia allocated an additional 59 billion rubles (about $976.5 million) for the development of the annexed Crimea through 2020.
The Verkhovna Rada of Ukraine officially declared February 20, 2014 as the beginning of the temporary occupation of Crimea and Sevastopol by Russia. The President of Ukraine, Petro Poroshenko, signed the relevant law on October 7, 2015. International organizations recognized the annexation of the Crimea as illegal and condemned the actions of Russia. Western countries have introduced a number of economic sanctions. Russia denies the annexation of the peninsula and calls it "the restoration of historical justice."