Russia postpones financing of Crimea

Crimea

Russia has postponed financing for the annexed Crimea program development afteryears.

The Minister of Economic Development of Russia Alexey Ulyukaev announced that the Crimea and Sevastopol development program implementation in total sum of 23 billion rubles from the federal budget had been deferred beyond 2017.

“We have decided to spend significant amounts in 2017 but not in 2016. It’s about 23 billion rubles. With this decision no provision exists for further deferrals,” said Ulukaev.

Only 4.5 billion rubles were spent in Crimea last year which are about 20 percent of funds for the Crimea development program.

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