Prime Minister Dmitry Medvedev has appointed former Moscow Region Deputy Governor Konstantin Sedov head of Rosfinnadzor (Federal Service for Financial and Budgetary Supervision). He had been responsible for monitoring the financial and economic area of Moscow region, with the state debt of the region’s budget contracting under his watch from RUB 155.2 billion in 2009 to RUB 80 billion by June 2012. However, he was not retained by the team of the new Governor of Moscow Region Sergei Shoigu.
At the same time, Sedov could find himself running a newly revitalised state body. According to proposed amendments to the Budget Code, the powers of Rosfinnadzor could be expanded. As well as verifying the completeness and reliability of the reporting relating to the discharge of state programmes, the Government approved these amendments in mid-July and forwarded them to the State Duma. If approved, the agency could oversee RUB 11.6 trillion in 2013, equivalent to 86.6 per cent of federal budget expenses.