Sustainability of regional budgets is beyond doubt

Ilya Sokolov
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Ilya Sokolov: Gaidar Institute for Economic Policy

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development (In Russian), 2025, issue 21, 4

Abstract: The positive results of regional budgets execution for the first seven months of 2025 include maintaining an acceptable level of balance and debt burden. However, the situation is likely to deteriorate somewhat by the end of the year due to the continuing decline in income tax revenues and faster-than-expected growth in expenditures. To balance their budgets, regions may need either additional financial assistance from the federal government or a relaxation of restrictions (controls) to expand commercial borrowing.

Keywords: Russian economy; regional budgets; revenues; expenditure; fiscal transfers; regional debt (search for similar items in EconPapers)
JEL-codes: H61 H62 H63 (search for similar items in EconPapers)
Date: 2025
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