Russian Prime Minister Mikhail Mishustin instructed the Ministry of Finance and the Ministry of Labor to prepare amendments to the federal budget law and the Pension Fund budget law, respectively. This was reported on the website of the cabinet. Orders must be executed before February 11th.

The Ministry of Finance and the Ministry of Labor and Social Protection of the Russian Federation “with the participation of interested federal executive bodies” need to amend the laws “On the federal budget for 2020 and for the planning period 2021 and 2022” and “On the budget of the Pension Fund of the Russian Federation for 2020 and for the planning period 2021 and 2022 ”.

At the same time, this should be done taking into account the developed regulatory legal acts aimed at implementing the events of the message of the President of Russia Vladimir Putin to the Federal Assembly, is explained in the instructions.

On the eve of Mishustin during the first meeting of the updated Cabinet of Ministers called improving the quality of life of the population of Russia one of the priorities of the government.

“We must as quickly as possible begin to implement the tasks that the president set in his message. This is demography, this is support for families with children. This, in the end, is the growth of people's incomes, concern for those who need state assistance, quality health care, and education — all that is called improving our people's living standards. I think that this is our main task, they expect this from us, ”said the head of government.

According to Finance Minister Anton Siluanov, additional resources in the amount of about 4 trillion rubles will be needed for these purposes until 2024. According to him, the sources of financing for the implementation of the tasks set in the message of the Russian leader have been identified.

“And the majority, the significant part and the main part are the resources of the federal budget,” he said.

Recall, on January 15, Vladimir Putin delivered an annual message to the Federal Assembly, paying particular attention to social issues. The head of state, in particular, proposed paying maternity capital already at the birth of the first child, as well as increasing payments for the second and subsequent. In addition, it was decided to introduce for a family whose income does not exceed one living wage per person, monthly payments for children aged three to seven years from January 1, 2020.

“Reformatting and moving away from the old model needed”

According to Nikita Maslennikov, head of the Finance and Economics department of the Institute for Contemporary Development, the direction for adjusting laws is obvious, given the government’s vector of activity outlined by Mikhail Mishustin.

“The point is that the budget should reflect sources of funding for socio-political initiatives set forth in the president’s message to the Federal Assembly. Since this applies to a significant part of maternal capital, corresponding changes must be made in the budget of the Pension Fund, because it is responsible for the administration of financial flows related to capital. As for the sources of financing for this year, this is about 500 billion rubles according to preliminary estimates. In order to understand what stage we are at and to clearly understand what sources of financing and when will be needed, Mishustin issued these instructions, ”explained the interlocutor of RT.

In turn, the expert of the Russian Institute for Strategic Studies (RISI), candidate of economic sciences Mikhail Belyaev, noted that practices prevail in the new government.

“First of all, this concerns the first deputy prime minister Andrei Belousov, who knows all the features and characteristics of the Russian economy to the finer points. Mishustin himself is also a man of business who brought order to the tax sphere. All parameters inherent in financial documents were focused on previous models. Therefore, now it is necessary to reformat budgets in such a way so that not some balanced abstract financial indicators are at the forefront, but that the budget works on the possibility of implementing national projects that will lead the country to accelerate economic growth and improve the well-being of the people, ”the expert noted conversation with RT.