Crisis in Russia and neighbouring states, Moldova's and Ukraine's restrictive measures directly affect foreign economic activity of Pridnestrovie’s agents

04/30/15 16:51

Crisis in Russia and neighbouring states, Moldova's and Ukraine's restrictive measures directly affect foreign economic activity of Pridnestrovie’s agents

Throughout a year the republic has been facing a difficult socio-economic situation

The government's press service informs with reference to the statistics of the State Customs Committee (SCC) that Pridnestrovie's foreign turnover decreased by 23% in the first quarter of this year. The amount of import duties has made almost 57.5 million roubles in 2015. It is nearly 2.5 times lower than achieved during the same period in 2013, and at 68,7% (126 million roubles) lower than in 2014. The amount of export duties decreased by 10% in the first quarter of this year compared to the same period in 2013. On the whole, the level of customs revenues to the national budget has decreased by almost 50% as compared to 2014. At the same time, the Ministry of Finance points out that customs duties take up a considerable portion of the budget. According to the preliminary estimates of the SCC, if the trend continues, the committee will have contributed to the budget only 75% of revenues by the end of the year as compared with the plan set.

According to the statistical data of the Ministry of Finance, the amount of tax revenues from enterprises has considerably decreased. Thus, the deductions made by OOO Sheriff decreased by 37% as compared with the first quarter of 2014, and by 2013 in comparison with 2013.

The deductions made by CJSC Moldovan GRES, CJSC Tirotex, CJSC Kvint, OAO Moldova Steel Works and others considerably decreased. CJSC Moldovan GRES paid by almost 24.3% less tax than last year, Kvint by 35% and Rybnitsa Cement Plant by 20%. Moldova Steel Works submitted by nearly 24.3% less tax in the first quarter of the last year than in 2013, and this year's decline is another 3%. CJSC Tirotex, a textile manufacturer, submitted by 30% less tax in the first quarter of 2015 than in 2013 and by 41% than in 2014.

On the whole, in the first quarter of 2015 various level budgets and extra-budgetary funds fell short of almost 31 million roubles in revenues from budget forming enterprises as compared to 2014, without taking into consideration revenues from foreign economic activities. At the same time, having analysed the indicators, the Ministry of Finance admits it cannot forecast any increase in revenues.

Despite that, the government continues to support a number of enterprises and agricultural producers. They have benefits consisting in lower energy tariffs and income taxes credited to revenue budgets. That causes declining revenues to various level budgets, which prevents from financing social payments in full volume. However, the government finds it necessary to maintain the productive capacities of enterprises, their competitive abilities and a great number of jobs.

In this regard, the government continues to implement additional measures aimed at stabilising the socio-economic situation. However, due to the lack of financial resources, the basic trends are rather administrative in nature. According to Minister of Economic Development Alevtina Slinchenko, much work is being done as part of the promotion of foreign economic activity, in particular, the implementation of memorandums on inter-agency cooperation signed with the Russian Federation. Besides, the president submitted to the Supreme Council the draft law «On some extra government measures aimed at minimising negative impact of economic factors.»

«It includes a package of measures in fiscal, construction, everyday life and other spheres. In particular, it provides for fiscal amnesty for legal entities and individuals and «construction» amnesty for individuals, as well as a number of tax benefits for organisations providing new jobs, building housing facilities and for those who sell production domestically, using domestic raw materials," said Alevtina Slinchenko.

Besides, the draft law suggests enabling the government to introduce external control at crisis enterprises.

«External control is introduced to perform timely analysis, monitoring and, above all, prevent enterprises from suspending the production and executing massive layoffs," clarified the minister.

The implementation of these measures does not require extra expenses. However, the authors underscore its approval will help to stabilise economic agents' activities during the crisis. Despite that, the Supreme Council deputies have rejected the bill by a majority.

Today the government continues to work on elaborating decisions aimed at stabilising the work of big enterprises and supporting SME’s. The government continues to support a number of budget forming enterprises. Decisions are made to introduce a unitary approach in all districts and shorten time periods for issuing approval documents for creating new facilities in different spheres, as well as conditions to stir up business entities' activities, including in foreign economic sphere.


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