The Ministry of Finance announced a drop in income for profit in 16 Russian regions
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Two months ago there were nine such subjects. The decrease was mainly due to the metallurgical industry and, to a certain extent, is associated with a high base in 2021. This situation was recorded, in particular, in Karelia, Belgorod, Kursk, Lipetsk, Sverdlovsk and Chelyabinsk regions, as well as Transbaikalia.
Personal income tax, the second key source of tax revenues to regional budgets, decreased over this period only in two regions – Ingushetia and Altai. Two months ago there were six such subjects. Gornin explained that personal income tax, being a fairly stable tax, tends to grow even during times of crisis.
According to him, the Ministry of Finance is not very concerned about falling revenues in the metallurgical regions, since these entities already have experience in forming balanced budgets using accumulated reserves in prosperous periods. At the same time, the volume of these savings in all regions is estimated at more than 4 trillion rubles, such a “safety cushion” will help finance budget expenditures next year.
Cumulative budget surplus of Russian regions as of August 1 exceeded 1.4 trillion rubles, previously calculated by ACRA analysts based on operational data for January-July, which significantly exceeds the figure for the same period last year – 0.8 trillion rubles. In most regions, the budget for the current year is drawn up with a deficit, but the actual execution will be much better than planned, ACRA noted then.
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