MOSCOW, March 4. /TASS/. Russia’s State Duma (lower house) passed the bill aimed at ensuring macroeconomic stability in the country amid sanctions in the second and third readings on Friday. The amendments to the Budget Code were initiated by the government of the Russian Federation.

In particular, the document puts provisions in the Budget Code stipulating the possibility of placing the funds of the National Wealth Fund (NWF) in Russia’s public securities. For investing the NWF funds in the country’s public securities it is implied to consider the possibility of acquiring them before the threshold of 7% set for liquid assets of the National Wealth Fund is reached.

Moreover, it is suggested that total federal budget expenditures may rise within the amount of their receipt in 2022 with a corresponding increase in budgetary provisions of the reserve fund of the Russian government.

A similar exception is also suggested for shares of Russian issuers not related to financing of self-sufficient infrastructure projects for the purpose of creating legal basis for acquisition of shares of Russian issuers on the secondary market by the Finance Ministry. The acquisition of such shares is considered as a long-term promising investment of NWF funds, and it will also allow stabilizing the situation on the Russian stock market.

To neutralize the negative consequences of sanctions and ensure a balance of the federal budget amid high volatility of capital markets the law stipulates the possibility of using in 2022 additional oil and gas budget revenues to replace state borrowings, meeting public regulatory obligations of the Russian Federation, redemption of Russia’s state debt, as well as financial provisions of other prior actions by the decision of the government.