The State Duma passed in three readings yesterday the amendments to the 2007 budget appropriating 640 billion rubles for investment purposes and to the state corporations. In the next effort, they OKed the bill on the 300-ruble increase in basic pension.
Photo: Artem Pigarev
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State Duma Drives Up Pensions, Investments
The yesterday’s concern of State Duma was social and economic problems of Russia. The legislators passed in three readings amendments to the 2007 budget appropriating 640 billion rubles for investment purposes and to the state corporations. In the next effort, they OKed the bill on the 300-ruble increase in basic pension.
Under the amendments to 2007 Federal Budget Act that Deputy Finance Minister Tatiana Nesterenko presented yesterday, 640 billion rubles (300 million rubles from the Stabilization Fund and 340 billion rubles generated by selling the Yukos assets) will go “for capitalization of development institutions.”
To be more precise, 180 billion rubles will be transferred to the Development Bank, Russia’s Nanotechnology Corp. will receive 130 billion rubles, Fund for Housing and Communal Service Reorganization will get 240 billion rubles and 90 billion rubles will be added to the money of Investment Fund.
After passing that bill, the State Duma proceeded to the pensions. The basic component of the pension will grow by 300 rubles to 1,560 rubles from December 1, 2007 and further step up by 234 rubles to 1,794 rubles from August 1. The monthly payments will increase by 7 percent from April 1, 2008. Overall, 166 billion rubles will be additionally appropriated to the effect in 2007 and 2008. The labor old-age pension will be roughly 4,000 rubles from December 1, 2007. According to Farida Gainullina (United Russia), that amount corresponds to 131 percent of the pensioner’s cost of living.
www.kommersant.com
All the Article in Russian as of Oct. 19, 2007
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