Intergovernmental fiscal relations and subnational finance in Russia in 2015

Arseny Mamedov, Elena Fomina and Sergey Belev
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Elena Fomina: Gaidar Institute for Economic Policy
Sergey Belev: Gaidar Institute for Economic Policy

Published Papers from Gaidar Institute for Economic Policy

Abstract: In 2015, the share of subnational budget expenditure of the Russian Federation consolidated budget dropped considerably from 39.7% in 2014 to 32.1% in 2015 (excluding expenditure for the Crimean Federal Okrug). The share of tax revenues shrank to a lesser extent, from 32.6% to 28.6%, during the same period. The decline in the share of subnational budget expenditure of the total volume of Russia’s consolidated budget expenditure is explained largely by faster-than-normal growth of the federal budget expenditure (by 5.6% in nominal terms). The federal budget expenditure increased first of all for ‘General National Issues’ (by 18.6%), ‘National Defense’ (by 28.3%), ‘Housing and Utilities’ (by 20.5%), ‘Social Policy’ (by 23.5%), ‘Municipal and Public Debt Servicing’ (by 24.8%). Subnational budget expenditure increased in the period under review by 1.4% (excluding expenditure for the Crimean Federal Okrug).

Keywords: Russian economy; fiscal relations; subnational finance; consolidated budget; debt policy (search for similar items in EconPapers)
JEL-codes: H71 H74 H76 H77 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2016, Revised 2016
New Economics Papers: this item is included in nep-cis, nep-cse and nep-tra
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Published in RUSSIAN ECONOMY IN 2015 TRENDS AND OUTLOOKS (ISSUE 37)

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https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2016-259.pdf Revised version, 2016 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:gai:ppaper:ppaper-2016-259

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