Tiraspol, 25 April. /Novosti Pridnestrovya/. The chair of the government, Pavel Prokudin, has held a briefing session today with the participation of financial and economic ministers. During the meeting participants voiced information on budget performance at all levels and provided an analysis of macroeconomic indicators, the government's press service reports.
In his opening speech Pavel Prokudin focused on one of the most pressing issue: the Sheriff company's offer to grant a target loan for repaying public sector and pension debts. It is recalled that the government has sent loan agreement drafts to the company's leadership, specifying real redemption dates and the inadmissibility of pegging the loan amount to the foreign exchange value.
The finance minister several times questioned the government’s capability of repaying the loan in the current year. The commercial organisation had also presented their draft agreements. Taking into account that the regulation of individual essential items is exercised from different positions, the government had tried to organise a meeting with the companies' leadership. But this proposal had not met with support. According to company representatives, there was no need in any additional discussion of draft agreements.
The prime minister noted that the company had retained nearly all their terms. Only repayment time had been shifted from October to November. With regard to the difficult situation and the social importance of the government complying with its obligations and despite different positions on loan terms and redemption period, the government is ready to discuss and sign the proposed draft agreements at the nearest meeting.
Speaking about macroeconomic indicators, the minister of economic development, Dmitry Boltrushko, underscored that in the 1st quarter of 2016 the volume of industrial output decreased by 2.9% in US dollar terms against the same period in 2015. The volume of exports dropped by 1.6%, and imports by 35%. The aggregate turnover decreased by 25%. The first 18 days of April saw a 18% reduction in exports,, according to the minister. This is due to a drop in prices for the electric power exported to Moldova. There has also been slight deflation since the start of the year, which testifies to the stability of Pridnestrovian prices
Analysing the performance of the budget revenues in the 1st quarter of 2016, one can notice a 46-million-rouble decrease in receipts. It means, according to the finance minister, Irina Molokanova, that the budget plan was executed at 66%. Of 290 million roubles contributed to the budget, 204 million is the funds allocated for social transfers.
«With approximately 77%, the performance of local budgets is a bit higher. Since the start of the year they have received almost 176 million roubles, or 160 million excluding target revenues, which is 17 million as little as in 2015," added Irina Molokanova.
The finance minister pointed out that both republican and local budgets had used 175-million-rouble loans to repay all social benefits. At the same time, in January further 50 million roubles, which is to be repaid in six months' period, was spent to plug the cash gap, the minister observed.
April revenues have dropped by 20 million roubles as compared to the last months of 2015. «Excluding target receipts, we have now received only 60 million roubles against 80 million in the last year. We can't take up any more loans before the enactment of the budget law by the president. Shortfalls of revenues and a lack of additional funds when put together cause irregularities in salary payment," explained Irina Molokanova.
In aggregate, only 50% of March salaries have been paid off from the republican budget so far. The government is seriously concerned about it and has determined to hold an additional extended session to work out a mechanism of resolving the issue.
