MOSCOW (Realist English). The reserve fund of The Cabinet of Ministerswill increase by 273.4 billion rubles, the corresponding order was signed by Prime Minister Mikhail Mishustin. The money will be used to implement measures aimed at ensuring the stability of the Russian economy in the conditions of the economic war declared by the West.
The main source of the increase in the reserve fund — 271.6 billion rubles — is additional oil and gas revenues received in the first quarter of this year. In early March, the President gave the Cabinet of Ministers the right to manage these funds, fixing this with amendments to the law on the specifics of budget execution of the budget system of the Russian Federation. These powers allow the Cabinet of Ministers to respond quickly and flexibly to changes in the situation in the economy.
The Reserve Fund of the Cabinet of Ministers was created to finance unforeseen expenses and measures of federal significance that are not provided for in the federal budget for the corresponding fiscal year.
The monies from the fund are intended for the implementation of socially significant goals. In 2021, the money was allocated, in particular, to finance one-time presidential payments to pensioners and families with children from 6 to 18 years old, as well as activities related to the fight against coronavirus.