Increased budget revenue in the Sverdlovsk region approaches 10% over projected figures.
Budget Surplus of Almost 10% in Sverdlovsk Oblast for 2024
In a notable achievement, the revenue of Sverdlovsk Oblast's budget for 2024 exceeded the forecast by nearly 10%, as reported by the Department of Information Policy of Sverdlovsk Oblast. The surplus was acknowledged during a government meeting led by Denis Pasler, and the report will be subsequently presented to the regional Legislative Assembly.
According to Alexander Starikov, Minister of Finance of Sverdlovsk Oblast, the growth in revenues was primarily due to key budget-forming taxes. The increasing revenues testify to the stable socio-economic development of Sverdlovsk Oblast, enabling the region to fulfill social obligations, construct social infrastructure facilities, mend roads, and decrease public debt without resorting to commercial borrowing.
The actual revenues of the regional budget reached 471 billion rubles for 2024, which represents 109.8% of the approved annual forecast. Concurrently, expenditures also rose, amounting to 462.9 billion rubles for 2024. Compared to 2023, expenditures increased by 65.5 billion rubles. The lion's share of these expenses, amounting to 298.5 billion rubles or 64.5%, was allocated for social policy, education, healthcare, culture, and sports.
This funding permitted the provision of various social payments to 805,490 individuals, the construction and reconstruction of 16 schools, 11 healthcare facilities, 6 sports facilities, 4 kindergartens, 3 houses of culture, and centers for cultural development. In addition, 34.3 billion rubles were allocated for the realization of events within national projects. The consistent efforts to reduce the debt load led Sverdlovsk Oblast to decrease public debt by 15.5 billion rubles in 2024.
Previously, the "Regional Newspaper" reported the consolidated budget of Sverdlovsk Oblast received over 20 billion rubles in 2024.
Factors contributing to the budget surplus in Sverdlovsk Oblast include federal investment in infrastructure and construction projects within the "Construction" state program, the sustained industrial production and export growth supported by government measures, the expansion of small and medium-sized enterprises, the growth of the information technology sector, and the continued support for local producers and enterprises ensuring stability. These factors collaboratively stimulated economic expansion, employment, and tax revenue inflows, enabling Sverdlovsk Oblast to surpass its budget revenue targets in 2024.
The budget surplus of almost 10% in Sverdlovsk Oblast for 2024, as reported by the Department of Information Policy, can be accredited to key budget-forming taxes and increased revenues from the finance sector. The growth in these revenues is a testament to the sustainable business development and economic expansion of Sverdlovsk Oblast.
