Tatarstan consolidated budget receives 108.8 billion roubles in the first half of 2016

On July 22, speaking at a regional meeting of financial, treasury and tax bodies at Tatarstan Government House, Tatarstan President Rustam Minnikhanov said that in the first half of 2016, the consolidated budget of Tatarstan received 108.8 billion roubles of tax and non-tax payments.

According to Minnikhanov, the main macroeconomic indicators for the first half of the year showed growth as compared to the same period last year. Thus, the index of industrial production made 103.2 per cent, the volume of agricultural products was 101.7 per cent, the rate of growth of volume of construction work constituted 103.9 per cent, and others.

“We should not be quite satisfied with the achieved economic indicators. They are largely the result of the previous years. We should maintain positive dynamics, find new reserves for economic growth, ensure the effective performance of enterprises,” he went on to say.

Minnikhanov continued that 25 per cent of Tatarstan enterprises suffered losses over the first five months, totalling to 18 billion roubles, which is four billion roubles more as compared to the same period last year.

Besides, more than 700 enterprises and organizations are in the stage of bankruptcy. Their number has increased to 50 since the beginning of the year.

“As for the tax payable, we held a meeting on this issue with relevant departments. As of July 1, the tax payable totals to 7.2 billion roubles, which is an important reserve of growth of our revenues,” Minnikhanov said.