No scaling down of social, investment programmes during pandemic

November 16
Social sector

Moscow is not going to scale down its investment programmes during the COVID-19 pandemic, Mayor Sergei Sobyanin said at the Strong Ideas for the New Era Forum.

“We will retain all our programmes linked with the construction of roads and metro development, as well as building railways, social and cultural facilities and also service centres. Businesses will be able to set up companies in the newly incorporated territories and to expand the infrastructure. As current practice shows, each rouble worth of municipal investment will yield two-three roubles’ worth of private investment. This means that the entire mechanism will be reactivated, and we will expand fixed capital investment and obtain extra tax proceeds,” he noted.

Even in the most complicated cases, including 2010 and 2014, Moscow did not curtail investments in the municipal economy. On the contrary, it expanded such investments and always obtained positive results.

Over a period of the next few years or so, the city will have to borrow money for development purposes, and budget implementation results will determine their volume. We will borrow the money and will guarantee the same volume of the 2019-2020 Targeted Investment Programme, and even slightly more,” Mr Sobyanin said.

The city will completely fulfil its social obligations. “We have enough funds for this purpose. Current revenues completely guarantee the implementation of our social policy. We will guarantee social payments, social-sector wages and current funding for budget-sector institutions,” he said.

In 2021, social expenditures will soar by over 90 billion roubles on the 2020 budget and will total about 1.8 trillion roubles. Moreover, 529.4 billion roubles are stipulated as social support for Moscow residents, including a hike in pensions, a reduction in public transport fares, housing and utility payments, plus the provision of medicine to name just a few things.

The draft budget sets aside another 63.5 billion roubles to pay for the benefits of families with children, as well as 188.8 billion roubles for paying senior citizens. This funding will make it possible to index benefits and compensation payments, due to exceed inflation levels.

The city stipulates 6.5 billion roubles as targeted social support for Muscovites facing serious problems in life. In 2021, 25.5 billion roubles will be spent on financing housing and utility payments for certain categories of city residents. Additionally, 21.9 billion roubles will be spent on housing subsidies for low-income families.

Over four million people in Moscow are paying reduced housing and utility bills and also get housing benefits.

The city is to spend over 136 billion roubles on paying public transport fares of residents who are classed as having a privileged status. This includes all local transport systems, commuter trains and the Moscow Region’s transport system.

Source: mos.ru

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