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Journal section "Territorial finance"

Problems of Budgetary Sphere of the Far Eastern Constituent Entities of the Federation

Leonov S.N.

1 (105), 2020

Leonov S.N. Problems of budgetary sphere of the Far Eastern constituent entities of the Federation. Problems of Territory's Development, 2020. no. 1 (105), pp. 93–108. DOI: 10.15838/ptd.2020.1.105.7

DOI: 10.15838/ptd.2020.1.105.7

Abstract   |   Authors   |   References
The article is devoted to the urgent issues of the regional budgetary sphere formation under the conditions of transformation of the Russian economy, unstable economic environment and financial system of the country. The purpose of the article is a systematic structural analysis of the budgetary sphere of the Russian Far East. By means of an example of the Far Eastern regions covering more than 40% of the territory of Russia, the dynamics of changes in the volume and structure of revenues and expenditures of the regions’ consolidated budgets for the period of 2013-2018 was analyzed. It is shown that the dynamics of the regional finance is largely determined by the status of the three groups of features of the Far Eastern subjects’ economy: the environment of regional economy lately demonstrating deterioration; the presence of a wide range of objects and types of economic activities financed by the Federal budget, which significantly increases the share of subsidies in the regional budgets’ revenues; strict monetarist policies conducted by the Federal authorities to stabilize the macroeconomic situation and leading to the decline of investment in the Far Eastern industry, the slowdown of the regions’ economic development and reduction of growth rates of the tax base of the consolidated budgets. On the basis of statistical and empirical research methods, the analysis of the balance of the consolidated budgets and of the dynamics and structure of the regional public debt was carried out. It is shown that under the conditions of low inflation in 2018 and positive dynamics of the major revenue sources in real terms, the incomes growth rate of the Far Eastern budgets during the period under review was lower than the corresponding national average, high dependence on subsidies from the Federal budget of the Far Eastern regions’ incomes remained. It is revealed that for the analyzed period, while reducing the number of regions with the budget deficit from 8 to 4, there was a sharp growth and deterioration in the structure of the regional public debt in the macro-region. It is argued that in the medium term a slowdown of incomes of the consolidated budgets of the Far Eastern subjects of the Russian Federation is expected. The article can be used by bachelors, undergraduates and postgraduate students in process of training, by academic staff as a research base, by the government in the process of decision-making on budget issues

Keywords

far east, regional public debt, consolidated budget, constituent entity of federation

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