the Relevant amendments of the Ministry of Finance have prepared and submitted for consideration to the government for the second reading, said Siluanov.

“the Amendment also fixed the timing of the distribution of other intergovernmental transfers. With few exceptions, they, by analogy with the subsidy, should be distributed until 1 January. The distribution of interbudgetary transfers, and agreements on them before the start of the next fiscal year will provide the most fair, transparent and rapid delivery of funds to the regions, and minimize the risk of uncertainty in the formation of budgets of subjects of the Russian Federation,” Siluanov was quoted by the press service of the Ministry of Finance.

the Amendments provide for the manner in which the system of redistribution of the volume of other inter-budget transfers that are not claimed at the conclusion of the agreements. The savings will be allocated to the reserve Fund of the government for financial assistance to regional budgets, said Siluanov. “It’s a mechanism for rapid redistribution of funds assistance to the regions given the current situation, national priorities, the capacity of regions to co-financing”, – said the Minister.

in addition, the level of co-financing activities of the program “Integrated development of rural areas” from the Federal budget will be equal to the co-financing for national projects. “In fact we are talking about additional support for the initiative field projects: development of recreation areas, sports and playgrounds, bike paths and car parks,” – said Siluanov.

Since last year, the government is working to improve the transparency and effectiveness of the use of intergovernmental transfers and the acceleration of funding to the regions. The result is 94% of the total number of inter-budget transfers were distributed at the end of 2019, in the budget act. But for the timely expenditure of funds by regions before the beginning of the year agreements were concluded for the most part of them is 99.7% of the total number on subsidies and 80% for other intergovernmental transfers.

formally for subsidies in the Budget code established a deadline until February 15, and the requirement for other intergovernmental transfers is determined annually by the budget law on 1 April.