Tuesday, October 24, 2017

Yekaterinburg raises municipal budget projections

Yekaterinburg municipal duma deputies readjusted 2012 budget projections on Wednesday, revealing an expected increase in municipal revenues.

According to the press service of the Yekaterinburg municipal duma, the city expects revenues to increase by 3.2 percent. In addition, the municipal Duma expects revenues to increase by 6.2 percent for expenses, BakuToday.net reports.

The municipal revenue increases can be attributed to increasing tax revenues on imputed incomes. The increasing tax revenues are due to an unexpected growth in the number of taxpayers and objects of taxation. Also contributing towards the municipal revenue increase were raised incomes from non-tax sources, and increases in fiscal subsidies from other sources, including a substantial subsidy from the regional budget for major repairs and renovations on roads in the Ural capital.

The increased revenues will be used in the expenditure budget in order to increase spending on education. The city announced plans to appropriate some of the increased revenues for the construction of new kindergartens, and to raise payments to school employees. In addition, the city will provide additional funds for necessary repairs on various health institutions within the city of Yekaterinburg, according to BakuToday.net.