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Tatarstan Struggling To Cope With Reduced Revenues

Prime Minister Rustam Minnekhanov
Prime Minister Rustam Minnekhanov
KAZAN -- The amount of taxes collected in Tatarstan in January was 79 percent less than a year ago, RFE/RL's Tatar-Bashkir Service reports.

According to a report by the Russian Regional Development Ministry, the global economic crisis affects the most-advanced regions in the country, which rely more on foreign investments.

Tatarstan's problems were accelerated by the fall of oil prices.

Oil-rich Tatarstan produces 26 million tons each year, with oil revenues constituting the biggest part of its budget.

Tatar Prime Minister Rustam Minnekhanov announced earlier that because of the crisis the regional budget might be cut by 25 percent.

He called on all state entities to come up with crisis funding proposals.