Yakutia's Government Faces Major Cuts Amid Financial Crisis
Yakutia's government is undergoing significant changes due to financial constraints. The Agency for Investment Development is under scrutiny, and the budget sector is facing substantial cuts, with 1600 jobs expected to be lost.
The budget deficit in the first half of 2025 reached 24 billion rubles, nearly ten times the approved annual deficit. This has led to a 30% expense reduction target for each ministry and institution. Public debt has increased by 26.5% to 69.8 billion rubles. Industrial production growth has slowed, and tax revenues have decreased by 4.4 billion rubles. The government sector is considered bloated, and optimization is expected in October 2025. Employees of government agencies and enterprises will receive notifications about layoffs during this period.
The financial situation in Yakutia is challenging, with the government taking steps to reduce expenses and optimize the budget sector. The impact on employees and the overall economy remains to be seen.
