Stability of regional budgets under sanctions in 2022-2024

Zemlianskii,, D. and V. Klimanov
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Zemlianskii,, D.: ussian Presidential Academy of National Economy and Public Administration (RANEPA), Centre for economic geography and regional studies at RANEPA, Moscow, Russia
V. Klimanov: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Centre for economic geography and regional studies at RANEPA, Moscow, Russia

Journal of the New Economic Association, 2025, vol. 66, issue 1, 308-316

Abstract: In 2022, in the first few months after the introduction of sanctions, negative forecasts for the state of regional budgets were formed. Due to the gradual introduction of sanctions and the adaptability of the Russian economy, the negative consequences were moderate or, in some situations, delayed. This article is devoted to the analysis of the processes of transformation of the parameters of regional budgets after 2022, risk factors and sustainability of regional finances. The article is based on the analysis of data from the Federal Treasury of Russia, open data from the Electronic Budget portal, data from the Ministry of Finance of Russia, Russian Federal State Statistics Service. The key realized risk was the price increase, which offset a significant portion of the nominal increase in revenue from other sources of income. The most important factor in the sustainability of regional budgets is an increase in personal income tax receipts in the face of a shortage of personnel. A separate issue in the article is the combination of anti-crisis and systemic policies of the Government of the Russian Federation for the development of Russian regions through debt instruments in the period after 2022. Despite the statistical growth of the budget independence of the regions, the real capabilities of the subjects are decreasing due to the increasing dependence of spending directions on targeted inter-budget transfers.

Keywords: regions of Russia; regional development; consolidated budgets of subjects; sanctions; public debt (search for similar items in EconPapers)
JEL-codes: H72 H77 R58 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2025:i:66:p:308-316

DOI: 10.31737/22212264_2025_1_308-316

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