N e w s

On Tuesday the head of Tatarian GOKHRAN department Yuriy Semenov informed that the Government of Tatarstan has declared the existence of GOKHRAN non-expedient.

The department was founded in 1997 in order to serve the guaranty of economical stability and to attract investments into the region.

However, since 2000, Tatarstan has refused from the budget based on barter operations. In addition, a considerable part of income comes to the federal centre, and it complicates the reserve fund formation as well. All these factors have led to GOKHRAN abolition.

According to Yuriy Semenov, the Government of the republic made the decision on GOKHRAN liquidation independently, without any pressure of the federal centre.