Rustam Minnikhanov: The main macroeconomic indicators of the republic have progressed as compared to last year

On October 20, in the Government House of the republic, Tatarstan President Rustam Minnikhanov held a video-conference with participation of heads of regional municipalities, which discussed the results of the execution of the consolidated budget of the republic for nine months of the current year and set tasks to be addressed by regional financial, treasury and tax authorities until the end of the year.

Opening the meeting, Minnikhanov said that the main macroeconomic indicators of the republic have progressed as compared to last year. For example, the gross regional product (GRP) has gone up by 3.6 per cent for eight months of 2017. According to Minnikhanov, “retail goods turnover has also shown a positive trend with a growth of 2.3. per cent.”

“Given these conditions, the regional consolidated budget has received 182.2 billion roubles of tax and non-tax revenues for nine months of this year," Tatarstan President said. "Taking into account the revenues of federal funds, the income to the budget has amounted to 199.8 billion roubles," he continued. 

Minnikhanov set the main tasks to be completed until the end of the year. First of all, regional financial, treasury and tax agencies have to preserve the positive dynamics achieved, to use the total reserves for further economic growth and income to the budget, and to ensure the effective operation of the regional enterprises.

Minnikhanov also voiced the amount of tax debt to the budget of the republic. "Over this period, the tax debt to the budget has reduced by 427 million rubles," he said. "At the same time, as of October 1 of this year, the tax debt is still significant and makes 7.7 billion roubles." Tatarstan President gave an errand to continue work in this direction.

Minnikhanov drew the meeting’s attention on the utilization of funds from the federal budget. "An important point is to utilize the most of federal funds," he said. “This year, a new procedure has been in place for subsidizing. The spending is performed using the federal budget and regional funds in accordance with the share of co-financing and submission of acts of work performed. The new procedure requires high financial discipline and timely planning, working more closely with contractors and delivering the work on time.”

Minnikhanov reminded that more than nine billion roubles should be spent until the end of the year. He instructed heads of regional ministries and departments to ensure full utilization of all funds before the end of the year and gave an errand to Ministry of Finance of the republic to keep this issue under control.