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Vladimir Putin signed Federal Law On Amendments to the Budget Code of the Russian Federation and Article 10 of the Federal Law On Amendments to the Budget Code of the Russian Federation and Certain Legislative Acts of the Russian Federation and Introducing Special Rules for Executing Budgets of the Russian Federation Budgetary System in 2022 and on Suspending Article 81.3 of the Budget Code of the Russian Federation.
In order to allow the Russian Federation regions and municipalities to set up reserves for promptly mitigating the consequences of price increases on essential goods and construction materials, and to fulfil high-priority wage payment obligations and other social obligations, the Federal Law provides for the lifting of restrictions on the volume of reserve funds of local administrations, as approved by laws (decisions) on the budget, until January 1, 2023.
The Federal Law also stipulates legal grounds for allocating subventions from the budgets of the Russian Federation regions to the budget of the State Extra-Budgetary Fund of the Russian Federation.
March 14, 2022