SOVIET BUDGET More For Farming, Less For Arms

Press, Volume CII, Issue 30316, 17 December 1963, Page 17

SOVIET BUDGET More For Farming, Less For Arms

(Jt-Z.P-A.-Keutrr— Copyright) MOSCOW, December 16. The Soviet Government has found it possible to reduce military 7 appropriations by 600 million roubles (about £246 million), Tass said today. The Finance Minister, Mr Vasily Garbuzov, said in his budget speech at the Supreme Soviet session today that the armed forces appropriations in 1964 would amount to 13,300 million roubles (about £5278 million) or 14.6 per cent of the total as against 16.1 per cent in 1963.

“These appropria- p tions will enable the r Soviet Union to main- j tain its defences at a ’ level that would ensure the security of the country and the entire Socialist camp,” , Mr Garbuzov said. Tass said the Budget for; 1964 and 1965 provided for a rapid growth of all the lead-, ing branches of industry,, with priority given to the! chemical industry. Large sums were being ! app; opriated for the development of agriculture, and specifically an increase in the' production of mineral fertil-1 In the next two years, record appropriations would bej made for housing construe--tion. science and education,'

tor social and cultural services, and for consumer production. Wages were to be increased for certain professions. Mr Garbuzov announced the Budgets tor the next two years as:— 1964: 91.800 million roubles (about £38,428 million) revenue, and 91,300 million roubles (about £36,230 million) expenditure. 1965: 101.200 million roubles (about £40,159 million) revenue, and 100,400 million roubles (about £39,841 million) expenditure. Revenue will exceed expenditure by 500 million roubles (about £l9B million) in 1964, and by 800 million roubles (about £3lB million) in 1965. According to preliminary figures, the Budget for 1963 will amount to 88,600 million roubles (about £35.158 million) revenue, and 86,800

million roubles ( about £34.444 million) expenditure, leaving a credit balance of 1.800 million roubles (about £714 million). Mr Garbuzov said the total allocations for the Soviet national economy would amount next year to 68,500 million roubles (about £27,182 million), and in 1965 to 74,400 million roubles (about £29,523 million). Chemical Industry

Next year, 2092 million roubles (about 830 million —44 per cent more than in 1963—would be allocated for the needs of the chemical industry, and in 1965 2757 million roubles (about 1094 million)—32 per cent more than in 1964.

It was planned to increase expenditure on the development of the power industry by 30 per cent, and the oil and gas industries by 38 per cent.

The new Budget would ensure the necessary financial backing for the considerable increase in the output of agricultural produce envisaged by the plan for 1964-65. Next year 11.900 million roubles (about £4722 million) —22.7 per cent more than this year—would be allocated for this, and in 1965 12.800 million roubles (about £5079 million). Foreign Aid The Budget also envisaged allocations for economic add to foreign states. “The Soviet Government,” Mr Garbuzov sadd, “is rendering disinterested economic add to states that have become free of colonial dependence. This add facilitates the development of the decisive branches of economy of the young states, their industrialisation.” Mr Garbuzov said the Budget for 1964 envisaged allocations for social and cultural undertakings of 32,700 million roubles (about £12.976 million), and in 1965 34,500 million roubles (about £13.690 million). The report on the fulfilment of the Budget for 1962 showed revenue of 84,300 million roubles (about £33,452 million), and expenditure of 82.200 million roubles (about £32.619 million), with revenue e..ceeding expenditure by 2100 million roubles (about £833 million).