Arkhangelsk cuts budget
Increasing unemployment and reduced tax revenues have made the Arkhangelsk city administration cut 2009 budget spending with 18 percent.
The city administration anticipates a reduction in tax revenues of up to 945 million RUB this year, Rusnord.ru reports. One of the reasons behind that is a major increase in unemployment. Up to 40,000 people are expected to lose their jobs in the city over the next months, the newspaper writes. The 2009 budget adopted in December last year includes a spending frame of 7.945 billion RUB. Now that will have to be reduced with almost 1.5 billion RUB.
