The Legislative Assembly of St. Petersburg has approved of the city budget for 2020.
The Legislative Assembly of St. Petersburg has approved of the draft city budget for 2020 and target plans for 2021-22 including all the amendments suggested by Alexander Beglov, Governor of the city.
The budget income for 2020 will make almost 674.9 billion rubles ($10.6 billion) and the expense will amount to some 727.7 billion rubles ($11.4 billion). The budget deficit will thus make 52.7 billion rubles ($0.8 billion), or 7.8% of the income, which is well below the limit set by the Ministry of Finance. 70 percent of the expense part is allocated for social and national programmes.
The Legislative Assembly approved of the amendments suggested by St. Petersburg Governor Alexander Beglov to increase the income part by 10.2 billion rubles ($160 million) and expenses by 26.3 billion rubles ($412 million). The money will be spent on transport system development, education, healthcare, and social support to city residents.
Photo: St. Petersburg TV channel