The Russian government is cutting spending on space, defense and the Far East
Numerous expenses on large construction projects are being compressed. Only defense spending, and not all of it, and import substitution projects do not fall under the knife, writes Kommersant.
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Among the rejected and non-extended projects are the construction of new Russian spaceports, the federal target program for the development of the Far East, and the Ministry of Defense program to increase the contract component in the armed forces. All of them are put on a waiting list in case the economic situation improves.
Investment amounts were reduced for 2016 by 33% (from 2,673 trillion rubles to 1,788 trillion rubles), for 2017 - by 35% (from 2,78 trillion rubles to 1,793 trillion rubles), for 2018 - by 42% (from RUB 2,767 trillion to RUB 1,608 trillion). Investment growth is expected no earlier than 2018.
The level of budget financing of investment expenditures for the period from the 2009 crisis year to 2018 in relation to GDP will decrease by 2,1 times, in terms of expenses for the implementation of federal programs - three times.
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