On December 12, at a final session of financial, treasury and tax authorities with participation of Russian Minister of Finance Anton Siluanov, Tatarstan President Rustam Minnikhanov said that well-coordinated and effective work of these authorities should help the republic to overcome difficult economic situation in 2015.

Opening the session, Minnikhanov said that following the results of 2014, mobilization of 752 billion roubles of all incomings is expected in the republic. Tax and non-tax revenues will make 403 billion roubles.

According to the president, the republic is holding leading positions by the amount of tax payment in Volga Federal District. “In spite of tough economic situation we are fulfilling all obligations and have reached performance targets in increasing wage of public-sector employees,” he said.

Minnikhanov stated that economic situation will be tough in 2015. He also reminded about changes in personal property taxes. Tatarstan President expressed his concerns about the influence of “big tax maneuver” in conditions of fall in oil prices and embargo that is planned to be imposed on production of beer in PET package that can result in regions losing up to 34 billion roubles and shutdown of factories. Therefore, Rustam Minnikhanov addressed Anton Siluanov with a request to analyze consequences of the law passage.

Speaking about off-shore amnesty announced by Russian President Vladimir Putin, Minnikhanov suggested investing funds returned from abroad in Tatarstan.

“Funds of Russian business should be spent in Russia, and if anyone wants to return their capitals to the country, Tatarstan is ready to provide its investment projects and ensure maintenance of investments,” Minnikhanov said.

Tatarstan Minister of Finance Radik Gaizatullin, who took part in the session, said that the republic provides stable flow of budget revenues. The volumes of wages have increased. Funding of 23 regional social programmes continued, measures aimed at development of state-financed organizations and increasing quality of services rendered to population were implemented in 2014. The state debt of the republic made 91.6 billion roubles. The law on budget of the Republic of Tatarstan for 2015 and planned period of 2016-2017 was passed.

Rustam Minnikhanov thanked the Federal tax service for efficient work.

Siluanov also thanked all employees of financial authorities for their work. “2014 is the year of challenges. We see changes in foreign economic conditions, and decrease in capital flow. However, we are successfully finishing this year. At the ministry we see efficient work of Tatarstan leadership, and we often consult with Rustam Minnikhanov when we make decisions. It is very important for us that your results help us making managerial decisions.

Anton Siluanov noted that the federal center and regions will face certain challenges in 2015, and decisions on budget execution are being made now. The minister also promised supporting regions with public budget loans.

Summing up the session, Rustam Minnikhanov thanked Russian Ministry of Finance and personally Anton Siluanov.