The revised budget to be assessed by the regional parliament next week will include cuts in all budget posts, Dvinainform.ru reports. Also social benefit programs will be affected. The economic hardship could also result in a serious setback for several major investment projects, among them within infrastructure and port development. Today we face the challenge of upholding industry, secure salaries, and meet all social obligations, Governor Ilya Mikhalchuk said, Dvinainform.ru reports. Following the crisis, the regional administration now also intends to abandon plans for the application of three-year budget planning, and rather use only one-year budget plans.
