Source Pravda.Ru

Moscow to face significant budget deficit

The Moscow budget is expected to have a deficit of 12bn rubles (about$379m) in 2003, Irina Rukina, chairman of the Moscow parliamentarycommission for economic policies, announced at a press conference today.She specified that revenues of the Moscow municipal budget would reach260bn rubles ($8.22bn) next year. Moscow authorities are going to eliminatethe deficit by sales of state property in the capital of Russia, creditsand other non-tax revenues. Profit tax payments make up most of therevenues in the municipal budget (44 percent), while income tax paymentsprovide 29.4 percent of the revenues. The 2003 budget already envisages1.74bn rubles ($55m) in revenues from the sale of state property. Theofficial reported that auctions would be a priority for the sale of stateproperty.According to Rukina, the Moscow 2003 budget, unlike previous budgets, willbe drawn up under a new principle. The budget will include three types ofinvestment programs - yearly, mid-term and long-term programs (for 3 yearsand more). Expenditures for the housing and communal sector will beincreased by 19 percent. About 85bn rubles ($2.69bn) will be allocated forsocial programs. The 2003 budget also stipulates a rise in public transporttariffs and an increase in salaries of state employees..

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

China has allocated $20 billion to restore economies of the Arab states. In addition, China and the Arab countries will create an inter-bank association worth three billion dollars

China weaves financial web to oust Russia and USA from Middle East
Comments
What does Theresa May have under her armpits?
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea
France thrashes Croatia to win FIFA 2018
France thrashes Croatia to win FIFA 2018
Can USA and Russia reset their relationship in Helsinki or is it a waste of time?
Lightning strikes tree under which five people were hiding from heavy rain
The Future of NATO
The Future of NATO
Will Iran close the Strait of Hormuz to trigger global oil crisis?
What does Theresa May have under her armpits?
Will Iran close the Strait of Hormuz to trigger global oil crisis?
France thrashes Croatia to win FIFA 2018
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
France thrashes Croatia to win FIFA 2018
France thrashes Croatia to win FIFA 2018
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
China makes serious preparations for hot war with USA
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea