The Russian government’s reserve fund will increase by 791.6 billion rubles thanks to additional oil and gas revenues received in 2022, the cabinet’s press service said on Wednesday.
“The government reserve fund will increase by 791.6 billion rubles. An order was signed for this purpose. The funds will be used, among others, by to implement measures to ensure the stability of the economy in the face of external constraints. the source of the increase in the reserve fund are the additional revenues from oil and gas received in 2022, the press service of the Cabinet of Ministers informed.
The report indicates that the government’s right to dispose of these funds is enshrined in the amendments to the law on the specificity of implementing the budget of the budget system of the Russian Federation in 2022, approved by the president in early March.
«These powers allow the government to react quickly and flexibly to changes in the economic situation,» he added.
As recalled in the press service, the Reserve Fund of the Government of the Russian Federation was created to finance unforeseen expenses and measures of federal importance that are not provided for in the Federal Budget Act for a given financial year. The funds from the fund are allocated to socially significant goals.
«In particular, in 2022, it was a source of financing monthly payments for children aged 8 to 17, the purchase of free drugs for coronavirus patients. The funds were also used to retrain the unemployed ”- RIA Novosti Reports.
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