S&P predicted a capital budget deficit due to renovation
Due to the renovation program in 2017-2019, Moscow’s budget deficit, taking into account capital expenditures, will increase, reaching an average of 4%. Before this, in 2014-2016 there was a budget surplus of 4%, Standard & Poor's (S&P) reports in its forecast, writes RBC . The rating agency's base scenario assumes that current expenditures of the capital's budget in 2017 will amount to 1.5 trillion rubles. In 2019 they will increase to 1.7 trillion rubles.