The Accounts Chamber assessed the effect of sanctions on regional incomes

According to the department,due to sanctions, revenues to the budgets of Russian regions may decrease by 5–8%

As a result of Western sanctions, the consolidated revenues of Russian regional budgets may decrease by 5–8% this year. This was reported to Vedomosti in the press service of the Accounts Chamber.

According to the auditor Natalya Trunova, sanctions against RUSSIA will affect the stability of the budgets of the subjects "in a certain way", but at present there is no unambiguous understanding of how the crisis will affect the performance and balance of regional finances in the whole country and in individual subjects. Much will depend on the speed of adaptation of the regions to the new conditions, the auditor specified.

According to Trunova, a number of entities are not only taking general anti-crisis measures, but are also actively working to promote enterprises in new markets and form new supply chains.

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At the same time, the Ministry of Finance told Vedomosti that, despite the sanctions pressure, the positive dynamics of the execution of the consolidated budgets of the regions in the first quarter continued. In 82 out of 85 subjects, there was an increase in tax and non-tax revenues - by 31% compared to last year's level and by 53% compared to pre-Covid 2019. The total amount of income of the consolidated budgets of the regions last year increased by 18% and amounted to 17.5 trillion rubles, the ministry said.

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Since the beginning of the Russian special operation in Ukraine, Western countries, including the EU and the US , have already introduced several packages of sanctions against Moscow. Restrictions, among other things, affected the top officials of the state, financial and industrial organizations, as well as the country's financial reserves.

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To date, the Russian authorities have already developed a number of measures to help the regions through soft loans. Thus, on April 20, the State Duma adopted the law on supporting the financial stability of regional budgets in the second and third readings. Up to 390.7 billion rubles will be allocated for budget loans to refinance the debt obligations of regions and municipalities. from the federal treasury (initially it was planned to allocate 255.3 billion rubles for these purposes).

In addition, following a meeting with Russian President Vladimir Putin held on March 16, regional governors were recommended to personally HEAD the operational headquarters for the sustainable development of regions.

Prior to this, the president signed a law on measures to support Russians and businesses in the face of foreign sanctions. According to the document, the government will be able to carry out additional indexation of insurance pensions, the pension coefficient and additional payments to pensions. The procedure for setting the subsistence minimum and the minimum wage (SMIC) will also change.

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