Nadiya

[Svetlana]

Konstantinovna successfully passes the 5667 budget with increase in welfare alongside tax hikes, Hutorian companies successfully acquire old Trigunian companies: start of the recovery

Backdated: November 20th, 5666
Zarvosopol, Kozaki. All three chambers of parliament gathered today to examine the proposed budget for the year 5667 made by Konstantinovna's finance commissioner, the package of paper is a near exact carbon copy of the 5666 budget yet it varies in ways nobody expected. For starters, the social spending of this hear has been increased by 15% which finally allows for pensions to be fully paid to retired workers alongside a restoration of full-coverage public health insurance that was only partial in the last budget, the reason for such changes comes from the recent 2 years of reforms done by the government and the central bank that helped uncover billions of unused and wasted rubles that were reallocated to next year's budget. Those discovered funds were mostly taken during the NCB's purge of corrupt financial institutions and its witchhunt against black market currency exchanges and the megacorporations who were given fines in millions of NRB for violating the anti monopoly laws. In addition, Konstantinovna's budget also includes the introduction of progressive taxation which meant that even more funds were directed to the Confederal reserves, this in turn allowed for the increase in welfare spending and even increased the surplus from 7% to nearly 13%. The increase in budget will allow for the government to more easily pay back its debt and improve the credit rating for the confederation, and when both the debt is decreased to at least 60% and Nadiya's credit rating is considered as excellent, Snezana promised that her administration will help maintain such status until Nadiya's becomes one of Terra's major financial and economic hubs. Furthermore, the recent acquiring of Chadonia, Sky international, Svemorod, and Trinoromod during an recent auction held by the central bank, the hutorian companies backed by their country's biggest financial institutions has allowed them to buy those companies at a competitive rate, when asked about their plans for the companies, the hutorian buyers stated that they will transform those companies into local launchpad for hutorian companies into the Nadiyan market as negotiations with the government have resulted in an agreement to have at least 80 to 90% of the workers in those companies remain Nadiyan and from local communities, something the Hutorians agreed to do.