November 21. Interfax-Russia.ru – The Moscow Department of Finance expects that revenues to the capital’s budget will increase by 12% compared to last year’s level, and will exceed the planned volume for the current year by 7%, said the head of the department, Elena Zyabbarova.
“Taking into account all the indicated factors, we expect the end of the financial year with good results in terms of income. According to our estimates, income compared to last year will increase by 12%, and the planned volume, which is provided for in the budget law for 2023, will be fulfilled with an excess of 7%,” Zyabbarova said on Tuesday at a meeting of the Moscow City Duma Commission on Economic and Social Policy.
According to her, despite the consistent tightening of sanctions pressure from unfriendly countries, the economy of Moscow, like the country as a whole, has adapted to the changed conditions this year and returned to sustainable economic development.
This year, manufacturing production is expected to grow by 13% in comparable prices, investment by 7.5%, nominal wages at the end of the year will increase by 8.5%, while maintaining the unemployment rate at a record low level – no more than 0.33%.
Positive dynamics of Moscow budget revenues are observed in almost all sectors of the economy, including in the manufacturing industry – almost 19% growth, in transport – more than 12% growth, in construction – almost 26%, in the IT sector – more than 20%.
“I present the results of budget execution for 9 months of this year, but the expected assessment is also favorable. The activities of these industries give a great impetus to the development of related sectors and the city’s economy as a whole,” Zyabbarova clarified.
