The State Duma adopted in the third, final, reading amendments to the Budget Code (BC), which allow the Russian government to issue state loans to foreign countries this year without making changes to the corresponding program, and loans can be issued in excess of the approved limit for the current year.
The amendments were introduced at the beginning of the week by the government and MPs.
According to the adopted law, the Cabinet of Ministers has the right to make decisions on the provision of state loans in 2020 that are not provided for by the program for the provision of state financial and state export loans, both at the expense of the appropriations established in the specified program and by reducing the balances of the federal budget funds formed for January 1, 2020. The parliamentary amendments specify that in 2020 changes to the consolidated budget list of the federal budget on state loans are made on the basis of government decisions, that is, without amending the budget and its consideration at a plenary meeting of the State Duma. “It (the amendment) is connected with the need to give the government opportunities related to the provision of loans, if the limit is exhausted,” – said earlier the head of the Duma committee on the budget Andrei Makarov.
Earlier, Russian President Vladimir Putin, during negotiations with Alexander Lukashenko in Sochi, said that Russia will provide Belarus with a state loan of $ 1.5 billion. “We agreed that Russia will provide Belarus with a state loan of $ 1.5 billion at this difficult moment,” – said Putin, opening the meeting with Lukashenka. “And we will fulfill this, now, as far as we know, our finance ministers are working on this at a professional level,” he said.
The program for the provision of state loans by Russia is being introduced together with the draft budget for a three-year period. The program specifies the name of the foreign country – the recipient of the state financial loan or the state export credit, the purpose of the loan, the main financial conditions (period of use, interest rate). The program is approved at a plenary meeting of the State Duma when considering the law on the federal budget. In the projections of the budget for 2020-2022, this program was classified as “secret”.