The Ministry of Finance has prepared amendments on the use of the digital ruble in the budget process

The Russian Ministry of Finance has submitted amendments to the government on the use of the digital ruble in the budget process. This was announced by Osman Kabaloev, Deputy Director of the Financial Policy Department of the ministry, speaking at the Federation Council on April 17.

He noted that the Ministry of Finance is working on the possibility of introducing digital currency into the budget process together with the Central Bank (CB) and the Treasury of the Russian Federation.

"Amendments have been made to the Budget Code that will allow the use of the digital ruble directly in the budget process, provide for the possibility of allocating funds in digital rubles, and the possibility of opening treasury accounts...> in digital rubles," TASS quoted Kabaloev as saying.

It is also clarified that in order to test the digital ruble in the budget process, the Ministry of Finance has prepared an approximate list of subsidies.

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In February, Anatoly Aksakov, head of the State Duma Committee on Financial Markets, told Izvestia that the launch of the digital ruble had been postponed until at least 2026, and most likely it would not start working until next summer. The deputy noted that it makes no sense to postpone the launch of the digital ruble too much, because the infrastructure for this is ready from the Central Bank of the Russian Federation and most large banks would be ready by July 1.