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Russian government allots $645m to North Caucasus development

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Russian government allots $645m to North Caucasus development

The draft budget for 2017 and 2018-2019 planning period provides for the allocation of 41.1 billion rubles ($645m) to finance the state program “Development of the North Caucasian Federal District” for the period of up to 2025.


As a reference, yesterday, the Parliament of Russia adopted the draft budget in the second reading.

Budget allocations for the state program are to be made annually from 2017 to 2019, in the amount of 13.7 billion rubles. A total amount of funding is 41.1 billion rubles.

The largest allocation is provided for the implementation of a subprogram, entitled “Development of tourist cluster in the North Caucasian Federal District, the Krasnodar region and the Republic of Adygea”.

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