The economic position of the republic will change for the first time
The share of revenues that the republic’s budget will receive from the oil industry in 2020 will exceed the share, received from the diamond mining industry for the first time, Yakutia 24 TV channel reports with the reference to TASS.
“This year, Yakutia is experiencing certain difficulties, the revenues of mining companies [the diamond mining industry], primarily ALROSA, are declining. At the same time, we see an increase in revenues of the oil and gas section companies. For the first time in history, we predict that next year they will exceed revenues from the diamond mining industry,” said Vladimir Solodov, head of Yakutia government.
According to the report of Minister of Finance of Yakutia Valery Zhondorov, in 2020, 33,7% of the total profit of enterprises, that pay the taxes to the republic budget, will be the share of the diamond mining industry, and 38,6% of oil-producing enterprises. In 2019, this share amounted to 42,4% and 29,1%, respectively.
Vladimir Solodov also stated that the 2020 budget would maintain a social orientation.
“145 billion rubles, or almost 80% of total expenses, will be social ones. Payments for wage obligations will be sent in full, we do not see any reason for concern here. The May decrees will be fully implemented,” he added.
In addition, he emphasized that there would be no job reductions in either healthcare or education. Agricultural financing will also remain at the 2019 level.