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$792M for Factory Towns

Russia's regions have to allocate a further 2.5 billion rubles ($792.1 million) for the development of single-industry towns in 2012, Prime Minister Vladimir Putin said at a government meeting, Interfax reported Thursday. 

The federal government will disburse another 1.5 billion rubles to towns that depend on one dominant enterprise in 15 municipalities before this year is out, he said. 

He also said a package of decisions to release 6.2 billion rubles in additional budget-balancing subsidies in 2011 will be signed. "This money will go toward finishing key public buildings and fulfilling social obligations in 16 regions," Putin said.


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