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Budget Credits as a Tool to Ensure the Sustainability of Regional Budgets for the Successful Implementation of National Projects

https://doi.org/10.26794/1999-849X2023-16-6-18-27

Abstract

The subject of the study is budget loans, the importance of which has increased significantly in ensuring the balance of the budgets of the subjects of the Russian Federation. Activation of the processes of budget lending to regions is one of the main directions of the state program of the Russian Federation “Development of federal relations and creation of conditions for effective and responsible management of regional and municipal finances”, on the effectiveness of which the prospects for ensuring the sustainability of the budgets of the subjects of the Russian Federation and stimulating the infrastructural development of the regions depend.

The purpose of the work is to assess the current mechanism for providing budget loans to the subjects of the Russian Federation in order to establish the prospects of its impact on the budgetary stability of the regions.

The study highlights the main trends in budget lending to the subjects of the Russian Federation, including active restructuring of debt on debt obligations of the subjects of the Russian Federation in favor of treasury and other budget loans, as well as reducing the scale of market repayable financing of budget deficits of the subjects of the Russian Federation; reducing the cost of borrowing and, accordingly, budget expenditures for servicing the public debt of the subjects of the Russian Federation; optimization parameters of the regions’ debt burden; transformation of approaches to balancing regional budgets in favor of inter-budgetary redistribution of funds, as well as attraction of temporarily free funds of state institutions and balances of funds on budget accounts.

About the Author

M. L. Vasyunina
Financial University
Russian Federation

Margarita L. Vasyunina — Cand. Sci. (Econ.), Assoc. Prof., head of the Department of Public Finance

Moscow



References

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Review

For citations:


Vasyunina M.L. Budget Credits as a Tool to Ensure the Sustainability of Regional Budgets for the Successful Implementation of National Projects. Economics, taxes & law. 2023;16(6):18-27. (In Russ.) https://doi.org/10.26794/1999-849X2023-16-6-18-27

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ISSN 1999-849X (Print)
ISSN 2619-1474 (Online)