Union State Budget for 2011 to Exceed $180 Million, Borodin

18.11.2010 09:04

The budget of the Union State of Belarus and Russia is growing every year and will reach RUB5.6 billion ($180.5 million) in 2011. This was stated by Secretary of the Union State Pavel Borodin at the V Forum of the Union State draft programs in Moscow on November 17.

«Our budget is ten times bigger than the CIS budget. This year it amounted to RUB4.8 billion ($160 million), next year it will reach RUB5.6 billion.This budget will fund over 40 programs of the Union State, 40% of the budget will be spent on solving production problems. Every year the number of programs, receiving support and funding from the Union State, is growing steadily. The finance union programs received about RUB3.9 billion ($130 million) in 2010,» he said, RIA «Novosti» news agency.

According to Pavel Borodin, Union State program has created millions of job places, in addition, 17-18 million Russians are working on joint projects. He also notes that progress in economic cooperation is also illustrated by the annual growth of trade turnover between the countries. «If it amounted to $6.8 billion in 1999, so in 2008 it rose to $34.4 billion. The crisis of 2009 showed a small decline, but in 2010 the trade turnover between Belarus and Russia increased by 22 % compared with 2009,» Secretary of the Union State said.

He also believes that the recently introduced concept of a common agricultural policy is a milestone for the Union State. In his opinion, it will give impetus to the revival of the agricultural sector of both countries.

«All programs and activities of the Union State as a whole demonstrate the way we can revive the post-Soviet space. First and foremost, we need a contractual basis to built a union on. But recovery is possible only in the form of confederation,» Pavel Borodin said.