20 Dec 2018 12:20

Crimea, Sevastopol expected to spend 93%, 63% of federal program money in 2018

SIMFEROPOL. Dec 20 (Interfax) - Crimea and Sevastopol are expected to spend 93% and 63%, respectively, of the money allocated for 2018 under the federal targeted program for the region's development, Russian Deputy Economic Development Minister Sergei Nazarov told reporters on Thursday.

Some of the allocated money will not be drawn down, which is "not very good" and due to "poor planning," Nazarov said. "On the other hand, there is a good incentive to draw down the funds that [will be] allocated," he said.

Materials for a meeting state that the cash execution of the federal program for Crimea amounted to 72%, or 48 billion rubles out of 66.3 billion rubles, at the beginning of December, and the figure for Sevastopol was 43%, or 3.3 billion rubles out of 7.6 billion rubles.