Transnistrian Supreme Soviet adopts 2010 budget bill with 70% deficit at 1st reading
The supreme soviet of Transnistria has adopted the 2011 budget bill with an unprecedented deficit - revenues cover expenditures by less than one third.
According to the Supreme Soviet's official web site, projected revenues are 1.765 billion rubles, and expenditures - 7.601 billion rubles.
Region finance ministry Irina Molocanova said among the budget priorities are "supporting of the real economy sector, population social protection and executing of social programs".
The minimal salary's estimated level (MSEL) for reckoning salaries will be 5.3 rubles - from January 1, 5.6 rubles - from July 1, which will allow raising salaries of government-financed organizations' employees by 12% per year - the forecasted inflation level.
At the same time, the MSEL for calculating fines will be 11.15 rubles, and for paying the single social tax - 7.45 rubles.
For the purpose to support the economy real sector there was kept the standard for cancelling 5% profitability level if the enterprise sells its goods at the prime cost or lower. There will also grant exemption from the single social and income tax such organizations that pay their salaries to its employees even during standing idle.
In spite of the deficit, the budget provides means for paying re-established savings, citizen insurance sums, for giving incentives to employees of privatized enterprises. For the purpose to execute state's social commitments there was took a decision to change tax charging regulations made in favor of local budgets of Tiraspol, Bender and Ribnita. The rest of raions [state region] will be provided with transfers. General expenditures for financing special-purpose programs will be cut down 30% for the same purpose.
The pension fund was also adopted with a deficit, so the compulsory social protection and employment fund. The pension fund deficit exceeds 500 million rubles.
Commenting upon the bill, president of the unrecognized Transnistrian Moldovan republic Igor Smirnov said "though the crisis continues, many budget-constituent enterprises of Transnistria work not at full blast - the state will execute its social obligations".
"In any case, we will be able to feed, to heat people, also with the help of Great Russia", he said.
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