Balance and Sustainability of Regional Budgets in 2008–2016
Alexander Andryakov ()
Finansovyj žhurnal — Financial Journal, 2017, issue 6, 25-39
Introduction of unfinanced federal mandates connected to the May President Orders in 2012 together with steady reduction in real terms of federal transfers to regions resulted in the loss of regional budget sustainability and balance in the major part of the Russian Federation subjects. Regions began to accumulate state debt in amounts greater than Budget Code restrictions. This paper discusses the reasons of the regional budget sustainability and balance losses in detail, as well as possible approaches to recovery from that crisis.
Keywords: budget balance; budget sustainability; regional budgets; regional debt; intergovernmental grants (search for similar items in EconPapers)
JEL-codes: H71 H72 H74 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:170602:p:25-39
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