Chukotka is bankrupt - auditor
MOSCOW. May 21 (Interfax) - The Chukotka Autonomous District, whose debt more than doubles its budget revenue, is
bankrupt, the Auditing Chamber's auditor Sergei Ryabukhin told a news conference on Friday following a meeting in
which the chamber's top officials heard a report on the district's auditing.
Chukotka's current debt totals 9.3 billion rubles while the district's 2003 budget revenue added up to 3.9
billion rubles, he said. Under the budget code, the regional debt must not exceed the revenue of the region's
budget. "The district's revenue is less than one half of its state debt, so the region is for all practical
purposes bankrupt," Ryabukhin said. [RU EUROPE ASIA EMRG CRIM] ap tj <>
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