PRESS: Russia may cut national projects financing by 140 bln rbl

MOSCOW, Jun 29 (PRIME) -- The Russian government may cut financing of national projects by 140 billion rubles in 2021–2022, Izvestiya daily reported on Monday quoting preliminary budget amendments drafted by the Finance Ministry.

The amendments are connected in part to delays of projects and redistribution of resources in the coming years. The Demography national project will be cut most, by almost 150 billion rubles in the next two years, or by more than 10%. A Finance Ministry representative said that the key factor for the cut was adjustment of a forecast for requests for maternity capital, Ivestiya reported.

Adjustments to the other national projects are small, and financing some of them would even be raised. For instance, an upgrade plan for mainline transport infrastructure should be increased by 13 billion rubles in the next two years, the daily said.

A national project for support of small businesses would be cut by 7 billion rubles following adjustment of plans for easy-term lending.

A Finance Ministry spokesperson said that the amendments are not final and spending may be revised again if the macroeconomic factors change.

(69.1284 rubles – U.S. $1)

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