Funds have been found for the regions to implement the Executive Order signed by the President in May 2018, reported Leonid Gornin, First Deputy Minister of Finance of the Russian Federation, during the session on “Inter-budget relations: Choosing priorities.”
He says that the federal authorities have formed RUB 8 trln to be distributed from 2019 to 2024 as part of this task.
“We will be offering the regions comfortable co-financing conditions: 95% on the federal and 5% on the regional budget. That is, the federal authorities will support the national project implementation conditions by 95%. At the same time, the federal authorities may ask federal subjects to increase their share of financing though the regions may negotiate not to do so,” clarified Leonid Gornin.
The First Deputy of the Minister of Finance of the Russian Federation added that the target indicators, tools for arranging and resources for implementing President’s Executive Order would be assigned to the regions simultaneously. Up until that time, the regional authorities have to set up a system of planning, managing, and controlling the implementation of the relevant national projects.