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Amendments to individual legislative acts in connection to law on federal budget for 2016

November 4, 2015

The President signed the Federal Law On Amending Individual Legislative Acts of the Russian Federation in Connection to the Federal Law on the Federal Budget for 2016.

The Federal Law is aimed at creating a legal foundation for the use of remaining resources from the federal budget and income from management of Reserve Fund and National Welfare Fund resources in 2016.

In particular, the Federal Law stipulates the possibility of directing the balance of federal budget funds on January 1, 2016 toward increasing the volume of budget appropriations reserved in the federal budget for 2016 toward implementing additional measures to support sectors of the economy, social support for citizens, support for Russian federal constituent entity budgets and humanitarian assistance to foreign states.

In accordance with the Federal Law, revenues from managing Reserve Fund and National Welfare Fund assets will be directed toward ensuring the financial expenditures of the federal budget in 2016.

November 4, 2015