Prime Minister Dmitry Medvedev approves state programme Managing Public Finances

This document was drafted by the Ministry of Finance in accordance with the list of state programmes of the Russian Federation, approved by Government Directive No 1950-r dated November 11, 2010, for the purpose of ensuring the long-term balance and stability of the budget system and improving the quality of state finances management.

The state programme includes the following sub-programmes:

·        Long-Term Financial Planning;

·        Regulatory-Methodological Support and Organisation of the Budget Process;

·        Organisation of Control and Oversight in the Financial-Budget Sphere;

·        Ensure the Operation of the Tax System of the Russian Federation and its Development;

·        Manage the Public Debt and State Financial Assets of the Russian Federation;

·        Expand the International Financial and Economic Cooperation of the Russian Federation;

·        Establish the Online Budget State Integrated Data Network for Managing Public Finances;

·        State Regulation of the Precious Metals and Gems Sector, Establishment and Use of the State Precious Metals and Gems Repository of the Russian Federation;

·        State Regulation in the Sphere of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products Manufacture and Sales.

Expected results of the state programme:

·        Create stable financial conditions for sustained economic growth, for improved living standards and quality of life, as well as conditions for ensuring national security;

·        Create conditions for more cost-effective financial management at legal entities in order to fulfill state/municipal functions, to meet individual and public demand for state/municipal services and to make these services better and more affordable;

·        Ensure substantial tax-revenue and budget-revenue volumes, reduce the correlation between the volume of tax-revenue and budget-revenue debt and the volume of tax and budget revenue being channeled into the budget system of the Russian Federation; increase the share of tax-payers who approve the work of tax agencies;  and create a stable and predictable tax system;

·        Convert most federal budget expenditures to the principles of targeted-programme planning, control and the subsequent assessment of cost-effective use; ensure the active use of targeted-programme planning in Russian regions and at municipal entities;

·        Ensure compliance of state and municipal finances with modern global financial accounting and transparency standards.