The state treasury of Tatarstan has recovered from the coronavirus shock after recovering last year’s losses of 40 billion rubles. The natural increase in tax revenue was exceeded by 12-15 billion
The Ministry of Finance of Tatarstan has recovered from the coronavirus shock and no longer needs federal support. “This year there is no need for budget loans,” said the Deputy Minister of Finance of the Republic of Tatarstan Aleksey Shishkin at a meeting of the Budget Committee of the State Council of the Republic of Tatarstan on the fulfillment of debt obligations, the Ministry of Finance of the Republic of Tatarstan is preparing an adjustment of the budget after the growth in tax revenue Coronavirus 2021. The increase in revenue already amounted to 12-15 billion rubles 2018-2019 is still a long way off, but the federal center has also shown favor by granting a 9-year loan deferral.
Compensating for the financial failure in the pandemic
The Ministry of Finance of the Republic of Tatarstan is preparing to adjust the budget of the Republic of Tatarstan after the coronavirus in connection with the overachievement of the forecast revenue by 12-15 billion rubles, called Deputy Minister Aleksey Shishkin. He reported on the progress of budget implementation for 8 months of this year, saying that 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 raised 149.3 billion rubles, or 55% of the plan, and the Republican budget has raised 125.5 billion rubles, or 54.6% of the plan. In the event of a large overachievement of income tax payments, more than 53 billion rubles, or 71% of the annual plan, was collected. Targeted funds of 21 billion rubles were received from the federal budget. In total, the state treasury received 40 billion rubles more than last year. That is how much the Republican budget lost in 2020 when income tax collection “fell” 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. This year there is no such need, ”said the speaker. “The previous year was quite a failure, and 2019 was more stable,” said Aleksey Shishkin, describing the successful trend.
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.
“The timely financing of all planned expenses is underway,” assured the Deputy Minister of Finance of the Republic of Tatarstan.
The Ministry of Finance of the Republic of Tatarstan is forecasting an even more significant tax increase by the end of the year. “Apparently, after the results of nine months, it will be possible to submit a proposal to the State Council to increase the budget,” noted the spokesman.
“In 9 months the picture will improve and by the end of the year the income will increase. In all likelihood we will clarify things for you, “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 year shift
The federal center proved its favor by granting a 9-year loan deferment. The Ministry of Finance of the Republic of Tatarstan signed an agreement on the restructuring of a budget loan of 2.1 billion rubles, which was taken out at the end of 2020 to cover the budget deficit.
According to Aleksey Shishkin, in June this year, together with other regions, Tatarstan took part in the restructuring of the budgetary loans of the subjects of the Russian Federation.
“We also participated in a loan of 2.1 billion rubles that was issued in December 2020. Originally the repayment deadline was July 1st of this year, ”he said. “But as a result of the restructuring, the repayment was extended by 9 years – until 2029.”
According to its terms, the republic is obliged to pay 5% of the debt amount in the period from 2021 to 2024 and 16% of the amount of debt from 2025 to 2029. This could save the Treasury Department about 2 billion rubles, Shishkin said. Instead of 2.1 billion rubles, Tatarstan will return only 120 million rubles.
“The trend is not bad, payments are being postponed further and further, and as a result we are talking about the fact that the released funds will be used for investments,” commented the chairman of the Budget Committee of the State Council of the Republic of Tatarstan, Leonid Yakunin.
The members of the committee recommended that the draft law of the Republic of Tatarstan “On Approval of Additional Agreements to Agreements on Granting Budget Loans to the Budget of the Republic of Tatarstan from the Federal Budget” be adopted. On September 23, it will be submitted to Parliament’s autumn session.
Currently, the state debt of the Republic of Tatarstan is 85 billion rubles for budget loans and 11 billion rubles for public guarantees.
Luisa Ignatieva. Photo: gossov.tatarstan.ru