MOSCOW, August 8 (RIA Novosti) - Corporate mammoths' fiscal arrears for the several preceding years will go to regions where the companies base, Alexei Kudrin, federal Finance Minister, said to the Federation Council, parliament's upper house.
Regional revenues will not dwindle with new laws, entering into force next year, to delineate the rights and duties of federal, regional and municipal administrations, he reassured.
"Regional budgets will be balanced out in every clause. I am making the promise as minister," said Mr. Kudrin.
A special reserve fund of 30 billion roubles, roughly a billion US dollars, has been earmarked for the purpose in next year's draft federal budget, he added.
In this morning's session, the Federation Council approved Budget Code amendments on interbudgetary relations, as linked to the new competence delineation laws.
