Perm Krai (, Permsky kray) is a
federal subject of
Russia (a
krai) that came into existence on
December 1,
2005 as a result of the 2004
referendum on the merger of
Perm Oblast and
Komi-Permyak Autonomous Okrug. The city of
Perm became the administrative center of the new federal subject.Komi-Permyak Okrug retains its autonomous status within Perm Krai during the transitional period of 2006–2008. It also retains a budget separate from that of the krai, keeping all federal transfers. After that, Komi-Permyak Okrug's budget will be subject to the budgeting law of Perm Krai. The transitional period was implemented in part due to the fact that Komi-Permyak Okrug relies heavily on federal subsidies, and an abrupt cut would be detrimental to its economy.
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