The State Duma of the Russian Federation has lifted restrictions on regional reserve funds - the money will go to support
The State Duma of the Russian Federation today adopted amendments to the budget code proposed by the government to support the population in the face of sanctions against Russia.
“A Just Russia” will support all government bills, because we believe that the delay that we have already allowed in the rear is absolutely unacceptable. We are wasting precious time. So many things that were acceptable on February 21st are becoming unacceptable now. Dear comrades, you now have a colossal amount of trust. Try not to lose it too quickly,” said renowned economist Mikhail Delyagin.
He estimated the amount of unused budget balances for last year at 3 trillion rubles and called “not to improve the old order, which is no longer applicable.”
Deputy Oksana Dmitrieva condemned the budgetary policy that the Russian government had previously pursued, directing all the country's additional revenues to the “pocket” - the National Welfare Fund (NWF).
“What was it: economic sabotage or blatant unprofessionalism. As a human being, who spent 20 years from this rostrum proving the destructiveness of the budget rule, the formation of the National Welfare Fund and the stabilization fund, which amounted to investing oil and gas revenues in other people’s economies, I want to say that people who have been doing this for 20 years do not know how act now,” Dmitrieva said.
She noted that even in the current crisis, the government has not yet completely abandoned the budget rule that forms the National Welfare Fund, but has only softened it. The deputy called for all available funds to be used for direct investment in the Russian economy.
“It is impossible to pass everything through the already non-functioning stock market, through the foreign exchange market. We are putting budget funds at risk. All taxes and duties that should have gone to the National Welfare Fund go directly to the budget,” Dmitrieva said.
The amendments adopted today involve the rapid redistribution of budget money at the regional and federal levels. The bill provides for the lifting of 1% restrictions on the size of reserve funds for regions and municipalities until January 2023, 3. It is assumed that it will be possible to direct money to finance activities on regional projects using funds released in the process of restructuring budget loans. Regions will have more rights in determining the goals and objectives for the use of money.
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