Tatarstan budget to be added deficit in 2024

The Tatarstan Cabinet of Ministers introduced a bill on changing budget in the next three years. According to the document that can be considered at the next meeting of the State Council on 6 June, the budget will be deficient in 2024. Read more about it in Realnoe Vremya’s report.

Minus 16.6 billion

It should be reminded that this year the Tatarstan budget was approved in November 2023. It included costs and incomes totalling 399.6 billion rubles.

“We had been discussing this with Tatarstan Rais Rustam Minnikhanov, Premier Minister Alexey Pesoshin, his colleagues deputies, and we couldn’t hope budget incomes would increase in 2024 in those incomes we had scheduled in public programmes, projects, etc. I think, on the one hand, it is cautiousness, on the other hand, it is confidence. It doesn’t matter if you will get these additional incomes, the project will have to be stopped. We created the budget keeping this in mind,” State Council Farid Mukhametshin said in January 2024.

Now incomes are proposed to be increased by 30.3 billion, expenses — by 47 billion. But the first deficit-free budget will lose 16.6 billion. The project claims that this indicator is “supported by corresponding funding.” Incomes will be 429.8 billion rubles, expenses will be 446.6 billion.

How incomes will be increased

Incomes will be raised by 23.7 billion due to taxes and non-tax payments — considering the republic’s budget expenditure in the last four months in 2024. Income tax for companies is planned to be 5 billion higher, income tax for people will be 4 billion higher. Non-tax incomes will be increased by 14.7 billion.

“The changes are made considering the fact and dynamics of incomes coming from the money of the Republic of Tatarstan deposited in bank and incomes from the sale of tangible and intangible assets,” an explanatory note reads.

Another 6.6 billion will appear thanks to budget transfers from the federal budget and other incomes in 18 areas.

3.6 billion rubles to be spent on salaries of public workers

It is worthy of mentioning separately that public workers’ salaries will increase from 1 July 2024. This was announced two days earlier but the sum was not named. 3.6 billion rubles will be allocated for this.

“The numbers in the Tatarstan budget are in balance”

The budget will also undergo some changes in the next two years. In 2025, incomes and expenses will increase by 105.4 million, by 110.6 million in 2025, while the deficit will not change. So the forecasted figures will look the following way:

• 2025: incomes — 403,69bn, expenses — 416.19bn, deficit — 12.49 billion.

• 2026: incomes — 427,51, expenses — 446,38 billion, deficit — 18.8 billion.

“So according to Article 33 of the Budget Code of the Russian Federation, the numbers in the budget of the Republic of Tatarstan in 2024 with an outlook in 2025 and 2026 envisaged by legislation are in balance,” reads a financial and economic study to the bill.