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Journal section "Territorial finance"

Trends in Debt Sustainability of the Siberian Federal District Regions

Faiberg T.V., Gordeev V.V.

Volume 26, Issue 5, 2022

Faiberg T.V., Gordeev V.V. (2022). Trends in debt sustainability of the Siberian Federal District regions. Problems of Territory's Development, 26(5), 57–72. DOI: 10.15838/ptd.2022.5.121.5

DOI: 10.15838/ptd.2022.5.121.5

Abstract   |   Authors   |   References
The current conditions, characterized by the active reform of budgetary relations in Russia against the background of the economic situation associated with sanctions pressure and the pandemic consequences, leave an imprint on the development directions of the budgets of the constituent entities of the Russian Federation. On the one hand, the regions are obliged to comply with the requirements of budget legislation and perform the functions assigned to them; on the other hand, they are limited in financial resources to solve the tasks set. As a result of the imbalance of regional budgets, the state debt of Russia’s entities arises, the effective management of which should be facilitated by a timely adequate assessment of debt sustainability. This article is devoted to the identification of trends in the debt sustainability of Russia’s entities in the case of the regions of the Siberian Federal District. We have identified the dynamics of the composition and the state regional debt structure in the federal district and the most important factors affecting the amount and dynamics of debt: the balance of budgets, the share of tax and non-tax revenues in the regional budget. We have revealed the ratio of budget expenditures in the Siberian Federal District regions for servicing public debt not only to total budget expenditures, but also to tax and non-tax revenues and gross regional product. The analysis helps to identify the dynamics features and regional debt structure in each constituent entity of the Russian Federation which is part of the district, and on this basis to determine the possibilities of borrowing activities of regional authorities in the future

Keywords

regional budget, public debt, debt burden, regional debt, debt sustainability, government borrowing

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