Litwin
Platinum Member
Great News ! Muscovite colones Face Looming Debt Crisis. With cost of “black gold” at 15-23 dollars per barrel, the USSR economy collapsed, and the sovok itself collapsed, and the "golden" horde ("russia") budget can only be fulfilled only with oil price at $ 42.4 and higher. Its clear that all Muscovite colones soon will be free
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Since the start of the coronavirus pandemic, many of Russia’s regions have been rocked by the shock of the extra spending needed to combat the virus — and a new debt crisis is looming.
Regional debt has always been a major headache for the Kremlin. While the federal government earns buckets of money from the export of oil, gas and metals, the regional governments on the whole have to rely exclusively on personal income and corporate profit taxes for their revenue.
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In the last crisis, Russia’s Finance Ministry was forced to try to defuse a ticking time bomb of regional debt, which has been growing at an alarming rate between 2015 and 2016. At the time, the federal government was also short of cash as it struggled to fill a two trillion ruble ($26 billion) hole in its budget. It cut back harshly on federal transfers to the regions and changed the way it managed regional balance sheets — taking direct control of the worst half-dozen performers.
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“Regions, on the whole, lost about 26% of their revenues in the first seven months of this year compared to the same period in 2019,” said Toth-Czifra. “Although regional revenues rebounded slightly in the summer, they can easily plunge again in the second wave of the pandemic.”
“Oil- and gas-producing and processing hubs, such as the Yamal-Nenets Autonomous District, Krasnoyarsk, the Astrakhan region, and the Komi Republic suffered a double whammy — the pandemic and oil price decline — and lost up to half of their revenues in the second quarter.”
The situation has somewhat improved since, but federally-mandated deferments of tax payments mean that revenues are still lagging significantly behind plans. Even wealthy regions like Tatarstan have had to rely on state guarantees to cover healthcare expenses, with the federal budget absorbing two-thirds of the republic’s tax revenues.
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www.themoscowtimes.com
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Since the start of the coronavirus pandemic, many of Russia’s regions have been rocked by the shock of the extra spending needed to combat the virus — and a new debt crisis is looming.
Regional debt has always been a major headache for the Kremlin. While the federal government earns buckets of money from the export of oil, gas and metals, the regional governments on the whole have to rely exclusively on personal income and corporate profit taxes for their revenue.
...
In the last crisis, Russia’s Finance Ministry was forced to try to defuse a ticking time bomb of regional debt, which has been growing at an alarming rate between 2015 and 2016. At the time, the federal government was also short of cash as it struggled to fill a two trillion ruble ($26 billion) hole in its budget. It cut back harshly on federal transfers to the regions and changed the way it managed regional balance sheets — taking direct control of the worst half-dozen performers.
....
“Regions, on the whole, lost about 26% of their revenues in the first seven months of this year compared to the same period in 2019,” said Toth-Czifra. “Although regional revenues rebounded slightly in the summer, they can easily plunge again in the second wave of the pandemic.”
“Oil- and gas-producing and processing hubs, such as the Yamal-Nenets Autonomous District, Krasnoyarsk, the Astrakhan region, and the Komi Republic suffered a double whammy — the pandemic and oil price decline — and lost up to half of their revenues in the second quarter.”
The situation has somewhat improved since, but federally-mandated deferments of tax payments mean that revenues are still lagging significantly behind plans. Even wealthy regions like Tatarstan have had to rely on state guarantees to cover healthcare expenses, with the federal budget absorbing two-thirds of the republic’s tax revenues.
"
Russian Regions Face Looming Debt Crisis - The Moscow Times
As the second wave hits Russia’s regions hard, the costs are mounting for their fragile finances.
www.themoscowtimes.com
"China" wants Outer Manchuria back and Muscovite occupiers leave occupied Siberian Lands
"China" wants 9:02 Outer Manchuria back and Muscovite occupiers leave Siberian Lands " After losing the Opium Wars, the Qing dynasty was forced to sign a series of treaties that gave away land and ports to the imperialist Western powers, Russia and Japan; these were known as the Unequal...
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Great news ! "Russian" empire is the world’s biggest loser from oil’s crash, " russia’s challenge now is to avoid collapse."
Great news ! "Russian" empire is the world’s biggest loser from oil’s crash. With cost of “black gold” at 15-23 dollars per barrel, the USSR economy collapsed, and the sovok itself collapsed, and the "golden" horde ("russia") budget can only be fulfilled only with oil price at $ 42.4 and...
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