Moscow to spend $70-80 million more to cover Crimea’s budget deficit - deputy minister

19.03.2014 13:28
Moscow to spend $70-80 million more to cover Crimea’s budget deficit - deputy minister

YEREVAN, March 19. / ARKA /. Russia will invest $4-5 billion in the transport and resort infrastructure of Crimea, which joined Russia Tuesday following a referendum last Sunday, deputy economic development minister Alexei Likhachev said Wednesday, Prime reported.

President Vladimir Putin signed Crimea’s accession to Russia on Tuesday after the local authorities held a referendum on secession from Kiev.

Likhachyov said that Moscow will have to spend $70-80 million more to cover the Crimea’s budget deficit.

“As soon as Crimea acquires rights of Russia’s territory, it will be covered by Russian Federation’s obligations, primarily on budget deficit reduction. The ministry values it at $70-80 million so far. This is far from being a modest figure but it is justifiable until Crimea starts to earn money. I am more than sure that that in the mid-term prospective Crimea will be one of the Russian territories with a net income if there are infrastructural investments,” Likhachev said. -0-


Read the news first and discuss them in our Telegram


Tags: , , Новости Армении АМИ Новости-Армения

Related Posts
Armenia’s budget deficit in 2021 may be less than projected2020-12-15 17:04:07 Armenia’s budget deficit in 2021 may be less than projected
Armenian government’s 2020 budget deficit set at 183 billion drams2019-10-28 18:52:11 Armenian government’s 2020 budget deficit set at 183 billion drams
Armenia planning to half its budget deficit in 20172016-09-30 13:12:44 Armenia planning to half its budget deficit in 2017
U.S. government deficit rises to $120 bln 2012-11-14 11:39:46 U.S. government deficit rises to $120 bln
2012 Budget Deficit Poses No Threat To Armenia’s Macroeconomic Stability 2011-11-09 21:19:13 2012 Budget Deficit Poses No Threat To Armenia’s Macroeconomic Stability
World Bank official says Armenian budget deficit will drop from current 8% of the GDP to 3% in late 20122011-01-12 17:38:08 World Bank official says Armenian budget deficit will drop from current 8% of the GDP to 3% in late 2012
IMF finds six percent deficit-to-GDP ratio planned in Armenia’s 2010 state budget realistic2010-02-18 17:09:40 IMF finds six percent deficit-to-GDP ratio planned in Armenia’s 2010 state budget realistic
Armenian government’s budget deficit in 2022 projected at 3.1% of GDP- minister2021-10-25 22:23:10 Armenian government’s budget deficit in 2022 projected at 3.1% of GDP- minister
Armenia’s 2020 government budget deficit to increase to 6.2% – central bank’s report2020-12-30 12:13:30 Armenia’s 2020 government budget deficit to increase to 6.2% – central bank’s report

«
»