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The Far East to receive more funding under the state programs

  • Published in Economy
More financing

Not less than 5.5 percent of the expenditures of investment nature of the state programs should be received by the Far East. The corresponding instruction after the State Council meeting was given by President of the Russian Federation Vladimir Putin.

The Government of the Russian Federation is entrusted with doing this before October 15, 2019 when drafting the federal budget for 2020 and for the planning period of 2021 and 2022 and when specifying state programs of the Russian Federation. The Far East can receive such financing under the conditions of confirmation by the branch federal executive bodies of the expediency of creating facilities taking into account their planned load, availability of design and estimate documentation on facilities of regional and municipal property. Also, the Far Eastern regions will have to provide funding for the maintenance of new objects of regional and municipal property, said the press service of the Ministry for Development of the Russian Far East.

According to the Deputy Prime Minister of the Russian Federation - Presidential Plenipotentiary Representative in the Far Eastern Federal District, Yuri Trutnev, the decision to reach not least 5.5 percent of the expenditures of investment nature of the state programs is fundamental for the Far East. “This decision will not lead to an instant change in the situation. Initially, investments will accumulate, funding for a variety of programs will increase by two or more times. These are investment expenses. This means that new hospitals, kindergartens, schools will be built, but as they are built, funding will also increase in order for them to work. The Far East received a rather powerful impetus to development. It will be systematic and long-term,” the Deputy Prime Minister emphasized.

As Aleksandr Kozlov, Minister of the Russian Federation for Development of the Far East, commented in turn, “the President of the Russian Federation has set the goal of achieving the indicators of social development of the Far Eastern regions by 2025 to a level above the national average.” “For this purpose, the state programs provide for the compulsory formation of “Far Eastern sections.” We have said many times that the achievement of average indicators in the Far East is impossible without guaranteed funding sections of the priority development of the Far East in the medium and long term," said the head of Minvostokrazvitiya (Ministry of the Russian Federation for Development of the Far East).

Recall, Russian President Vladimir Putin approved a list of instructions following the meeting of the State Council Presidium held on September 10, 2018 in Vladivostok.