Russia has money to support four regions to be annexed, finance minister says

Oct. 3 (Reuters) – Russia has funds to support four Ukrainian regions that President Vladimir Putin began annexing last week and these funds are part of the country’s budget, Finance Minister Anton Siluanov told parliament.

Russia declared the regions’ annexations after holding what it called referenda in Ukraine’s occupied territories. Western governments and Kiev said the votes violated international law and were coercive and unrepresentative.

“Priority for the next three years will be the full integration of the new regions,” Siluanov said, without saying how much would be spent.

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“The federal budget has the necessary resources for this, both for the current provision of social standards… and for the economic recovery of the new regions of the Russian Federation.”

Russia plans to earn 27.7 trillion rubles and spend 29 trillion rubles this year, leading to a deficit of 1.3 trillion rubles or 0.9% of gross domestic product (GDP) according to the Ministry of Finance. .

The budget deficit is expected to reach 2% of GDP next year and fall to 0.7% of GDP in 2025.

Russia has classified the target of 6.6 trillion rubles in spending, or nearly a quarter of its total spending, next year, a draft state budget revealed last week.

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Reporting by Reuters; adaptation by Guy Faulconbridge and Ed Osmond

Our Standards: The Thomson Reuters Trust Principles.

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