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. Last Updated: 07/27/2016

State Boosts Financing for Major Political Parties

President Vladimir Putin has signed legal amendments more than doubling state financing for the country's major political parties.

According to the amendments signed Saturday, the state will pay political parties that receive more than 3 percent of votes in parliamentary elections 50 rubles ($2) for each vote cast in their favor, Interfax reported.

Previously, parties received 20 rubles for each vote.

The move will benefit all parties represented in the current State Duma, especially the ruling United Russia party, which won 49.32 percent of the vote in last December's parliamentary elections.

In October 2011, then-President Dmitry Medvedev signed amendments reducing the vote threshold from 7 percent to 5 percent for political parties seeking election to the State Duma.