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Journal section "Territorial finance"

To the issue of budget risks in the region

Galukhin A.V.

2 (70), 2014

Galukhin A.V. To the issue of budget risks in the region. Problems of Territory's Development, 2014, no. 2 (70)

Abstract   |   Authors   |   References
The sustainability of the region’s budget system is an integral part of its stability. The possible transition of a sustainability border is characterized by a set of risks. The fiscal risk arises in the process of income generation and expenditures execution. The risk is involved in the budget, but, at the same time, is largely dependent on administrative decisions. Fiscal risks manifest themselves as divergence of results from forecast. In many respects, the risks are defined by the volatility of the forecast parameters of socio-economic development of the territory, on the basis of which the budget is made. However, a limited set of risk management methods can be applied in practice. The transition to a long-term budget planning requires further elaboration of the risk management issues, aimed at the development of budget policy as a stabilizing factor of socioeconomic development of the territories

Keywords

regional budget, sustainability, fiscal risks, risk management

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