Karachay-Cherkessia has switched from the third to the second category of regions in the Russian Ministry for Finances in November, Karachay-Cherkessian Leader Rashid Temrezov announced.
In his words, 60 Russian regions belonged to the second category, 8 to the third. The latter are donators of finances to other regions.
The Ministry for Finances of Karachay-Cherkessia says that the republic will spend over 10.4 billion rubles on social expenditure. Income and expenditure will total 13.731 billion rubles.
