Russian lawmaker proposes legislation that would surrender legislative oversight on federal reserve-fund spending to fight coronavirus

Source: Russian State Duma

Andrey Makarov, the head of the State Duma’s Budget and Taxes Committee, has drafted legislation that would enable the federal government to increase its reserve fund without budget amendments that currently require the Duma's approval. According to the bill’s explanatory note, the reform would allow officials to allocate money more rapidly to the fight against the spread of coronavirus.

Prime Minister Mikhail Mishustin has already allocated 11.8 billion rubles ($150.6 million) in government reserve funds to finance stimulus payments to medical workers involved in the fight against COVID-19.

Among other things, the Russian government’s reserve fund is used to support emergency relief efforts across the country and confront terrorist threats. The size of the government’s reserve fund is written into the federal budget and parliamentary approval is currently required to make any revisions.

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Russian lawmaker proposes legislation that would surrender legislative oversight on federal reserve-fund spending to fight coronavirus

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