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Russia will continue to finance South Ossetia

2011-10-26 13:15

Russia will continue to finance South Ossetia. 23698.jpegDeputy Minister of Regional Development Sergey Vereshchagin said that Moscow will not reduce the amount of financial aid for South Ossetia.

"In 2012 - 2013 , the Russian Federation will continue to finance its investment program in the same scale as we have agreed earlier, there won't be any reduction. Estimated amount of funding in 2012 will be up to 6 billion rubles. These are the funds which will allow to solve all the problems that we identified within the joint investment program", as the IA "Res" reported, Vereshchagin said this during a visit to the capital of South Ossetia - Tskhinval.

According to him, the Russian and South Ossetian sides will develop a simplified scheme of financing facilities in order to accelerate the processes of reconstruction of the infrastructure of the republic.

Earlier it was reported, that Russian authorities have decided to reduce financial assistance to Abkhazia and South Ossetia in 2013-2014 years. This was reported by the GHN referring to IA REGNUM. Such information is contained in the conclusion of Chamber of Accounts on a bill on the federal budget for 2012-2014.

During this period, up to 2.537 billion rubles annually are allocated for the socio-economic development of South Ossetia - the same as in 2011, the Chamber noted. To provide financial assistance for the purpose of Abkhazia Russia is willing to devote up to 1.939 billion rubles, what also corresponds to the amount of funding for 2011.

Russia intends to allocate 2.9 billion rubles and 1.68 billion rubles for the implementation of public investment in South Ossetia for 2012 and 2013, said in the Chamber. Funds for these purposes for 2014 are not foreseen.

Russian financial assistance for the implementation of public investment in Abkhazia in 2012 is provided in the amount of 4.863 billion rubles.

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