Ministry of Finance of the Russian Federation plans to establish criteria for fiscal discipline for the regions

Ministry of Finance of the Russian Federation plans to establish criteria for budgetary discipline for subsidized regions, according to which, in case of  their non-compliance, they can lose 5% of financing next year.

"As of March 1, 2017 Ministry of Finance has concluded agreements with all the subjects of the Russian Federation, which recipient of subsidies for equalizing the budget provision", - the representative of the department has said.

In case of violation of conditions, the subsidies may be reduced by 5%. It is planned to tighten of sanctions in the future. The subsidies in the budget are provided for 72 regions in 2017.

The volume of subsidies for equalizing the budgetary provision in 2017-2019 has been increased by more than 19%.