The parliament of Kabardino-Balkaria introduced amendments to the republican budget of 2011 on October 11, Interfax reports.
Income dropped by 763 million rubles and reached 20.978 billion rubles, including federal grants reduced by 174 million rubles. Expenses dropped by 845 million rubles and reached 22.392 billion. The budget deficit reached 1.414 billion rubles, or 6.3% of expenditure.
Finance Minister Azret Bishenov underlined that the main reason for the reductions is lack of excise payments on alcohol. Crime cases for production and sales of fake alcohol is a local problem.
