Tue, 16 September
17.1 C
Yerevan
USD: 383.12 RUB: 4.62 EUR: 450.36 GEL: 141.63 GBP: 521.31

Moscow to spend $70-80 million more to cover Crimea’s budget deficit – deputy minister

YEREVAN, March 19. / ARKA /. Russia will invest $4-5 billion in the transport and resort infrastructure of Crimea, which joined Russia Tuesday following a referendum last Sunday, deputy economic development minister Alexei Likhachev said Wednesday, Prime reported.

President Vladimir Putin signed Crimea’s accession to Russia on Tuesday after the local authorities held a referendum on secession from Kiev.

Likhachyov said that Moscow will have to spend $70-80 million more to cover the Crimea’s budget deficit.

“As soon as Crimea acquires rights of Russia’s territory, it will be covered by Russian Federation’s obligations, primarily on budget deficit reduction. The ministry values it at $70-80 million so far. This is far from being a modest figure but it is justifiable until Crimea starts to earn money. I am more than sure that that in the mid-term prospective Crimea will be one of the Russian territories with a net income if there are infrastructural investments,” Likhachev said. -0-

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Head of Central Bank of Armenia sees no reason to reduce mortgage interest rates

Martin Galstyan, the Chairman of Armenia's Central Bank, stated that he finds no grounds for reducing interest rates on mortgage loans.

Euro and dollar rise against Armenian dram, while ruble falls

The average market exchange rate of the US dollar to the Armenian dram as of September 9, 2025, rose by 0.45 points compared to September 8 and amounted to 382.95 drams.

Regulation of cryptocurrency assets should adopt a pragmatic approach – Chairman of  Central Bank of Armenia

Martin Galstyan, the Chairman of the Central Bank of Armenia, asserts that a pragmatic strategy is essential to mitigate risks associated with the regulation of the cryptocurrency sector.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img