Cooperation of financial watchdogs of Belarus, Russia helps improve Union State budgeting

MOSCOW, 28 February (BelTA) – Cooperation between finanical watchdog services of Belarus and Russia helps optimize the budgeting process in the Union State, Chairman of the State Control Committee of Belarus Alexander Yakobson told reporters following a joint session of the State Control Committee and the Accounts Chamber of the Russian Federation in Moscow on 28 February, BelTA has learnt.

Alexander Yakobson emphasized that the financial watchdogs of the two countries have gained extensive cooperation experience. However, despite concerted effort they still cannot eliminate the chronic underutilization of the Union State budgetary funds. For example, only 93.3% of the Union State funds were executed in 2011, down by 2.4% compared to 2010.

Alexander Yakobson added that a significant amount of the Union State funds are utilized in the fourth quarter, often in December, which often causes mistakes and errors.

He emphasized that the budget is a key element in the Union State integration. It allocates resources for joint projects that account for the bulk of the budgetary funds – up to 70%. “These programs boast breakthrough results. The BelRosTransgen program produced extraordinary achievements in genetic engineering,” Alexander Yakobson said.

The participants of the joint session passed a report on the execution of the 2011 Union State budget, discussed the findings of the examination of the Union State spending on two programs: the program to combat crime and the program on waste recycling. The State Control Committee of Belarus and the Accounts Chamber of the Russian Federation passed a joint action plan.