Tuesday, July 31, 2007

Georgia: Over Half of South Ossetia's Budget Comes from Russia

The so-called republic of South Ossetia replenished its 2006 budget with funds from Russia - nominally received as investments from Russian state-owned companies - which amount to 60 percent of the total budget.

"This money comes from Russia. It is coming directly and openly. This is not insignificant assistance," the chairman of the South Ossetian separatist parliament, Znaur Gassiyev, said. The Russian Foreign Ministry has made no comment on the reasons for providing financial assistance to South Ossetia. [More]

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