Chechnya may lose direct financing this year

Chechnya may lose direct financing this year

The governmental commission for socio-economic development of the North Caucasian Federal District may consider equal financing of Chechnya by the end of this year, initiated by the Russian Financnes Ministry, RIA Novosti reports.

Switch to direct financing of Chechnya happened in July 2012. Each problem needing solution is financed separately. The Finances Ministry proposed a plan to list measures and terms to switch to inter-budget relations in the second half of 2012.

The Finances Ministry proposed a different financing scheme back in 2006. Equal financing for Chechnya was proposed in November 2006 to be adopted for 2009. But the idea has not been realized yet.

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