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Nizhniy Novgorod region, Russia receives more than 10 billion roubles.



Funds will be allocated as the region has serious debts.



25.Jul.14 7:48 PM
By Mihail Prygunov
Photo tv29.ru

   205

Nizhniy Novgorod region, Russia receives more than 10 billion roubles.
More than 10 billion rubles will be allocated to Nizhniy Novgorod region, Russia to cover the deficit of the regional budget and as compensation for the reduction in the revenues from the profit tax, which occurred because of the formation of consolidated groups of taxpayers. It was reported by Vladimir Ivanov, the acting Vice-Governor of the region. Nizhniy Novgorod region is included in the list of regions with substantial debt duty. In September the region will get the credit amounted to more than 6 billion rubles at 0.1 % of the rate of the Central Bank. This will help to reduce the budget deficit partially without attracting commercial loans, the official said. In addition, the Federal government will provide 4.1 billion rubles as compensation for the reduction in the revenues from the profit tax, which occurred because of the formation of consolidated groups of taxpayers. As it was previously reported, the government of Nizhniy Novgorod region, Russia plans to hold a series of auctions for granting the credit lines at the amount of 7 billion rubles to cover the deficit of the regional budget and repayment of national debt. Olga Sulima, acting Minister of Finance of the area announced that the budget deficit this year will exceed 15.8 billion roubles. By 2015 budget deficit will have been amounted to 11.1 billion rubles, in 2016 - 10.9 billion rubles.



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