Sberbank of Russia in Maykop
Sberbank of Russia in Maykop
Building of the National Bank
Building of the National Bank
Building of the National Bank
Building of the National Bank

Finance

The budget of the republic is granted.

That's why organs of executive authorities do their best to provide the budget independence of the republic. From 1991 to 2000 (except 1998) we can observe gradual growth of tax and non-tax transferring into the federal budget. Since 1997 we can observe the gradual growth of budget own income.

In comparison with 1996 the budget got:

  • in 1997 - 1,5 times (393,5 million roubles);
  • in 1998 - 1,25 times (326,4 million roubles);
  • in 1999 - 1,86 times (487,4 million roubles);
  • in 2000 - 2,72 times (711,4 million roubles).

Income is very important in the process of financing formation. In 1998 income of enterprises decreased on 19%. Since 1999 it has been increasing.

Banks influence the process of economic development. Bank system is represented by National Bank of the Republic of Adygeya of the Central Bank of Russia.

Now there are 5 banks in the republic: "Koshekhablbank", "Novatsia", "Adygeya", "Maykopbank", "Galabank". Ten branches are registered in Adygeya including 5 branches of Saving Bank of Russia and four branches of banks outside the republic: "Rosselkhozbank", "Centralnoe OVK", "Menatep SPb", "Yuginvestbank".