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Izvestia: Finance Ministry Intends to Strengthen Control over Recipients of Budget Funds
The Russian Ministry of Finance is preparing amendments to the Code of Administrative Offenses (CAO) related to the use of budget funds. So far, only a draft of the regulatory law is being developed, the Izvestia newspaper reports.
Today, administrative liability is imposed only in the event of a violation of the terms of budget financing. The amendment proposes to extend this to other crimes. For example, if a company that received money from the budget made mistakes in its financial reporting or failed to submit accounting documents on time.
The amount of fines for companies and entrepreneurs has not yet been determined, the ministry reported.
The Accounts Chamber reported that eliminating violations increases the reliability of budgetary accounting and allows for more effective and accurate management decisions.
Ekaterina Avdeeva, director of the Center for Experts in Criminal Law Policy and Ensuring Judicial Conduct, says that these changes could affect tens of thousands of businesses. According to her, the measure will primarily affect small and medium-sized businesses, which often find it difficult to fully and promptly comply with budget accounting requirements.
Earlier, Finance Minister Anton Siluanov reported that the volume of investments in long-term savings programs amounted to 80 billion rubles. Russia started from scratch, people invested resources and such figures have already been achieved, the minister noted.
The department also predicts that oil and gas revenues will make up 27% of Russia's budget in 2025, falling to 23% in 2027. According to Siluanov, this indicates that the share of unstable revenues has decreased due to an increase in domestic economic revenues and a decrease in Russia's dependence on oil and gas.