Regions:͵ Focus on Reduction of Expenses
Russian Economic Developments. Moscow, 2016, No. 5, pp. 16-19
4 Pages Posted: 19 May 2016
Date Written: May 19, 2016
Abstract
Reduction of the deficit of the consolidated budgets of subjects of the Russian Federation in 2015 was due to not to the improvement of the financial state of the regions but a decrease of borrowing possibilities and contraction of financial assistance from the federal budget. That is why ensuring non-deficit budget at the expense of cuƫting budget expenditure will be de-facto main priority for the fiscal policy of many regions during the current year and many years to come.
Keywords: Russian economy, regional development, regional finances, regional budgets
JEL Classification: P24, E52
Suggested Citation: Suggested Citation