TRANSNISTRIAN 2018 BUDGET DEFICIT IS ALMOST EQUAL TO PLANNED REVENUES

The unrecognized Transnistrian Moldovan republic will enter the new year with the adopted budget for the first time over the last several years. The budget law was signed by PMR president Vadim Krasnoselky on Thursday, despite the fact that the planned expenditures for 2018 are almost twice higher than revenues.

The revenues are planned within 1,594 million rubles (US$102.8 million), while expenditures – 3.086 billion (US$199.1 million). Deficit worth 1,492 million rubles is planned to be covered at the expense of the “gas” money, interest-free loans from legal persons – residents and external borrowings.

Transnistria’s external debt is indicated within US$668.6 million (on credits from Russia in 1992-1994 and interest rates on these). The document does not say a word about the repayment of debts for Russian gas, which exceeded US$6 billion.

The internal debt reached almost 17,888 million rubles and exceeded the planned 2018 budget revenues 11-fold. The funds on covering it have neither been provided in the document.

The 2018 budget was compiled on the basis of 2018 GDP growth forecast (2.2%) and inflation (6%). The budget does not include funds on raising salaries and pensions.