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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 retained its autonomous status within Perm Krai during the transitional period of 2006 � 2008. It also retained a budget separate from that of the krai, keeping all federal transfers. Starting in 2009, Komi-Permyak Okrug's budget became subject to the budgeting law of Perm Krai. The transitional period was implemented in part because Komi-Permyak Okrug relies heavily on federal subsidies, and an abrupt cut would have been detrimental to its economy.
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