New Union State budgeting process to be developed in 2013

VITEBSK, 13 March (BelTA) – A new Union State budgeting process will be worked out in 2013, Vladimir Nikitin, Deputy Executive Secretary of the Union State Parliamentary Assembly, told BelTA on 13 March.

The Union State has been working on the new budget policy for the past 18 months. The work will be completed this year. “This will be a refreshed document which will lift bureaucratic barriers. Perhaps, it will be amended with new revenue and expenditure items which will highlight real results of the Union State programs,” Vladimir Nikitin said.

In particular, the new budgeting process will streamline certain procedures of budget formation, harmonization of budget programs. There are also plans to introduce the notion ‘project’. Project financing can be done without the funds of the Union State. It may include interregional cooperation with the administrative and organizational assistance of the Union State.

According to Vladimir Nikitin, when dealing with the Union State budget formation it is necessary to resolve the issue of the Union State property. “Then we will find new sources of income and expenditure commitments,” he explained. At the same time, the Union State budget should not be overloaded with current expenditures. “We have a breakthrough budget. Funds are allocated for the priority industries,” he stressed.

The new budgeting order should also take into account the capitalization of the results of joint programs. “Many low-cost programs produced big results. Now we consider practical realization and financial benefits of these programs for the Union State budget,” Vladimir Nikitin said.

The session of the Commission of the Union State Parliamentary Assembly on economic policy takes place in Vitebsk on 13 March. Participants of the session discuss prospects of the trade and economic cooperation of Vitebsk Oblast and Russian regions. The agenda of the session includes the discussion of a promising economic project of the Union State: the concept of the sci-tech program “Creation of the scientific and technical platform in the pharmaceutical industry to produce highly-efficient and bio-friendly functional foodstuffs, new-generation hygienic and medical products using lactoferring and other human proteins”. The project will be implemented in 2014-2018 and will be considered at the session of the Union State Council of Ministers.

Apart from the Union State MPs, the session is attended by the representatives of the Union State Permanent Commission, Belarusian and Russian ministries and agencies, scientists of the two countries, Vitebsk Oblast administration bodies.