The digital ruble is expected to be an effective tool in monitoring the purpose of use of money and analyzing the costs of grants and subsidies, especially in transactions with legal entities that are not subject to treasury support.
It is planned to improve control over targeted expenditures of subsidies and grants provided to businesses for specific purposes. The digital ruble will also be used in construction projects initiated by Moscow organizations at their own expense.
Maria Bagreeva, head of the Moscow Department of Economic Policy and Development, noted that thanks to the digital recording of every transaction carried out using the digital ruble, the transparency of spending funds that are not subject to treasury support will significantly increase. This will reduce the risk of abuse and simplify the audit and control procedure.
“Currently, three key areas are being evaluated for the introduction of the digital ruble into Moscow’s public sector. Thus, the digital ruble, a new form of the national currency, can become a tool for monitoring the intended direction of funds and analyzing costs when conducting operations in terms of funds that are not subject to treasury support by legal entities, for example, when implementing investment programs of regulated resource supply organizations,” the press service said.
Source: Ferra
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