Regional Budgets in 2021: Safety Cushion has been Created

Региональные бюджеты в 2021 г.: сформирована подушка безопасности

Alexander Deryugin

Russian Economic Development, 2022, issue 3, 52-55

Abstract: In 2021, the performance indexes of consolidated regional budgets (growth rates; total budget revenues and own tax plus non-tax revenues; nominal and real volumes of aggregate budget surplus) updated the all-time high of the last decade. In 2022, this will provide an opportunity to mitigate the effects of the crisis, and the reduction in the share of expensive commercial loans servicing will increase the debt sustainability of the regions against the backdrop of rising interest rates in the economy. The structure of regional expenditures in 2021 remained stable, and its main changes were related to the completion of anti-crisis measures in 2020 and the reorientation of some expenditures to areas related to capital investments (housing and utilities sector and transport).

Keywords: regions’ budgets; revenues of regional budgets; expenditures of regional budgets; intergovernmental fiscal transfers; regional debt (search for similar items in EconPapers)
JEL-codes: H61 H62 H63 H71 H72 H74 H77 (search for similar items in EconPapers)
Date: 2022
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