Improving Economic Instruments for Water Resources Management in the Republic of Buryatia (OECD)
A major challenge facing the Republic of Buryatia, subject of the Russian Federation, is how to balance the task of protecting Lake Baikal – a unique water object and ecological system included in the UNESCO list of World Natural Heritage Areas – with the need for dynamic and sustainable socio-economic development of the republic. This requires streamlining and improving water policy jointly with economic, administrative, information and other policy instruments. The recommendations in this OECD report aim to help achieve this objective. They include the introduction of abstraction charges for irrigation water as a natural resource; enhancement of state support to the water sector; and improvement of economic instruments for managing risks of water-related hazards such as compulsory insurance and differentiated land tax rates in flood prone areas. The report is available to download on the OECD website.