Tuesday, September 11, 2012

Moscow Muscovites feed / / city budget rest on taxes from rising ...

Yesterday the government of Moscow discussed the basic documents of the budget for 2013-2015 ? the actual budget, the budget of city fund CBOs, which will rise sharply in 2013, as well as the forecast of socio-economic development of the regional economy. Since 2013, Moscow, despite the financial reserves of more than 200 billion rubles., Will return to the permanent budget deficit of around 15% of revenue and loans of over 100 billion rubles. year. Municipality expects continued growth in wages: the weight of taxes individuals in Moscow budget will be close to 50% of total revenues.

three-year budget documents were presented yesterday at a meeting of the Government of Moscow Deputy Mayor for Economic Policy Andrey Sharonov. The major changes in the budget of Moscow?s strategy in comparison with the previous years had been held in the 2011 budget: the city has restricted lending and in fact began to reduce debt (in 2012 it is expected to decline by 27.2 billion rubles.), Were outlined parameters of the basic municipal government programs and investraskhody construction were diverted much of the costs of transport and roads.

the basis for calculating the budget Mayor takes a moderately optimistic scenario of economic development, a similar project moderate scenario for the Ministry of Economy of the Russian economy. It is assumed that the investment in fixed assets in 2012 grew in real terms by 10% compared to last year, will increase in 2013 by 7%, in 2014 ? 8% in 2015 ? 9%. The main source of investment in Moscow ? a moderate growth in government spending: they rise from 1.6 trillion rubles. in 2012 to 1.7 trillion rubles. in 2013 and further to 1.85 trillion rubles. in 2015. Revenues of this will grow at the same rate ? from 1.4 trillion rubles. in 2012 to 1.5 trillion rubles. in 2013 and 1.65 trillion rubles. in 2015. Accordingly, the planned deficit Moscow continue at least until 2015 at around 15% of revenue: in 2013 it will reach 200 billion rubles., In 2014 ? 170 billion rubles., In 2015 ? 195 billion rubles.

At first glance, the proposed city budget is similar to the ideology of the ideology of the federal budget in recent years: it is possible understatement of income from corporate taxes and the creation of the budget in the form of a kind of damping constant unplanned revenues. But with Moscow a bit more complicated. In contrast to the federal budget, which receives dopdohody understatement planned in oil prices (and since 2007, they can accumulate in the reserve funds), and the main sources of income of about equilibrium in Moscow (40% of total revenues and higher) ? the corporate income tax and VAT personal income. Unlike the federal export taxes, both sources are only indirectly dependent on the price of oil. Basically municipality puts the growth in average income in Moscow at the level of growth in Russia (from 50 thousand rubles. To 68.8 thousand rubles. ? 1.8 times higher than the average). The budget income taxes Moscow individuals will increase from 40% in 2011 to almost 46% in 2015. The budget also founded retail sales growth of 10% per year.

In addition, based on the presentation of the finance department of the city government meeting in Moscow in 2013 to complete the transformation scheme of the budget: in 2012 a de facto non-deficit budget of the city was due to a number of cost reduction planned under Mayor Yuri Luzhkov, following the 2012 budget of Moscow should have unexpended balance the budget in the amount of 200 billion rubles. Budget-2013 in Moscow could easily be deficit-free, but City Hall is planning to still retain a peculiar Moscow stabilization fund balances in the coming years in the amount of about $ 150 billion a substantial income from the privatization of city hall from 2014 does not wait, as revenue growth from property . Based on this, Moscow will return to the market of loans: the city will take to 115-117 billion rubles. year. The ratio of debt to Moscow GRP now stands at 1.8%, will rise by 2015 to 3.6% ? this is, however, virtually risk-free rate for the metropolis of this size.


Tags: budget city feed from income Moscow Muscovites residents rest Rising taxes

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