Vologda oblast entered the top ten Russian regions in terms of growth of budget revenues

Such statement was made today by the head of the region Oleg Kuvshinnikov during his annual budget address to the Legislative Assembly of the region.

According to Oleg Kuvshinnikova, today we can talk about the transition of the regional budget to a new equilibrium with a low level of public debt, a stable revenue base and the new structure of budget expenditures.

The words of Oleg Kuvshinnikova confirmed by the statistics. If in 2011 the Vologda oblast was on the 65th place in the rate of growth of the income base (40 billion rubles), by the end of 2016, it has increased by almost 40% and amounted to 55 billion rubles.

"Thus, the revenue base growth we have achieved record values. Today on this parameter our region takes the first place in the North-Western Federal district and the ninth among the subjects of the Russian Federation", - said the head of the region.

In his message, the Governor also touched on the issue of reducing public debt region. The head of the region reminded that in peak periods it reached 105,2%, from the level of own revenue and by this indicator, the Vologda region took the first position of the Federal "anti-rating".

"Thanks to prudent fiscal policy, we have managed not only to stop the growth of public debt in the region, but also to begin its gradual reduction. By the end of 2016, the volume of public debt will be reduced to 73% of the volume of tax and non-tax revenues, and by 2020 we will reach the economically safe level of public debt – not more than 50%," - said Oleg Kuvshinnikov.

It is important that in addition to reducing the amount of debt the region has also been effective in the optimization of its structure. Currently, the share of market borrowings reduced to almost 42% (from 68 % in 2013 to 26% in 2016).

After the speech of the Governor of parliamentarians by a majority of votes (26 of 34 deputies) adopted the budget of the Vologda region in 2017 and the planning period of 2018 and 2019 with a surplus of 4 billion rubles for next year.