Tatarstan’s treasury has recovered from the shock of the coronavirus, having recouped losses of 40 billion rubles last year. The natural increase in tax revenue has been exceeded from 12 billion to 15 billion
Tatarstan’s treasury has recovered from the shock of the coronavirus, no longer requiring federal support. “There is no need for budget loans this year,” Deputy Finance Minister of the Republic of Tatarstan Alexei Shishkin said of the performance of debt obligations at a meeting of the budget commission of the State Council of the Republic of Tatarstan. growth in tax revenue, the Ministry of Finance of the Republic of Tatarstan is preparing to make a “post-coronavirus” adjustment to the 2021 budget. Already now, the increase in income amounted to 12-15 billion rubles. 2018-2019 are still a long way off, but the federal center has also been favorable by granting a 9-year loan deferral.
Compensating for financial failure in the pandemic
The Ministry of Finance of the Republic of Tatarstan is preparing to make a “post-coronavirus” adjustment to the budget of the Republic of Tatarstan due to the planned revenue exceeding of 12-15 billion rubles, the deputy minister said. Aleksey Shishkin mentioned. Reporting on the progress of budget execution for 8 months of this year, he said the revenue collection situation has stabilized and the treasury has recovered from the shock of 2020.
According to him, since the beginning of the year, the consolidated budget has collected 149.3 billion rubles, or 55% of the plan, and the Republican budget – 125.5 billion rubles, or 54.6% of the plan. With a large overspending of income tax payments, more than 53 billion rubles were collected, or 71% of the annual plan. Targeted funds of 21 billion rubles have been received from the federal budget. In general, the Treasury received 40 billion rubles more than the previous year. That’s what the Republican budget lost in 2020, when income tax collection “sank” significantly.
“The pace is good and compared to last year, when we were forced to take out loans from the federal budget, it is significantly different. There is no such need this year, “said the speaker.” The year before has been a failure and 2019 has been more stable, “said Aleksey Shishkin.
For 8 months of this year, 209.3 billion rubles were collected in the consolidated budget, 176.4 billion rubles were collected in the Republican budget.
“Timely funding of all planned expenditures is underway,” said Deputy Minister of Finance of the Republic of Tatarstan.
The Ministry of Finance of the Republic of Tatarstan expects an even more significant increase in taxes by the end of the year. “Apparently, by the results of nine months, it will be possible to submit a proposal to the State Council to increase the budget,” noted the speaker.
“In 9 months, the picture will improve further and by the end of the year, revenues will increase. In all likelihood, we will bring clarification to your attention, ”Shishkin said.
Recall that the budget revenue of the Republic of Tatarstan was approved in the amount of 274.6 billion rubles, expenditure – 281.7 billion rubles, the deficit – 7 billion rubles.
Another 9 years postponement
The federal center was favorable by granting a 9-year loan deferral. The Ministry of Finance of the Republic of Tatarstan signed an agreement on the restructuring of a budget loan of 2.1 billion rubles, taken to cover the budget deficit at the end of 2020.
According to Aleksey Shishkin, in June Tatarstan, along with other regions, participated in the restructuring of budget loans of subjects of the Russian Federation.
“We also participated in a 2.1 billion ruble loan, which was issued in December 2020. Initially, the repayment period was for July 1 of this year,” he said. “But as a result of the restructuring, the repayment period has been extended by 9 years – until 2029.
According to its terms, the republic is obliged to pay 5% of the amount of debt in the period from 2021 to 2024, and from 2025 to 2029 – 16% of the amount of debt. As a result, the Treasury will be able to save around 2 billion rubles, Shishkin said. Instead of 2.1 billion rubles, Tatarstan will only return 120 million rubles.
“The trend is not bad, payments are more and more postponed, and therefore we are talking about the fact that the funds released will be used for investments,” commented the head of the budget committee of the Council of State of the Republic of Tatarstan, Leonid Yakounine.
Members of the committee recommended to adopt the draft law of the Republic of Tatarstan “On the approval of additional agreements to the agreements on the provision of budgetary loans to the budget of the Republic of Tatarstan from the federal budget” . On September 23, it will be submitted to the autumn session of parliament.
Currently, the public debt of the Republic of Tatarstan is 85 billion rubles for budgetary loans and 11 billion rubles for public guarantees.
Luiza Ignatyeva. Photo: gossov.tatarstan.ru