Next year Russia is going to cut funds for annexed Sevastopol

Governor of Sevastopol Dmitry Ovsyannikov has informed journalists that in 2017 the budget of the city may be significantly cut comparing with the current year’s one.

According to him, budget 2017, prepared by the city authority, requires 26.9 billion rubles (about 414 million US dollars). At the same time, the Russian federal authorities are going to appropriate only 18.7 billion rubles (288 million dollars) for the city budget.

Ovsyannikov explained that the city could count on its own tax and non-tax incomes, amounting to 11.2 billion rubles, plus more 7.5 billion rubles of grants from the federal budget. “Total 18.7 billion rubles are significantly far from our planned target,” he said.

 

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