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Fiscal and Financial Situation of the Constituent Entities of the Russian Federation: Medium-term Trends in the Regional Context

Author

Listed:
  • Mikhail V. Milchakov

    (Moscow, Russian Federation)

Abstract

The article is devoted to the changes in the fiscal and financial situation of Russian regions in 2020–2022. During this period, the regions faced a new challenge in the form of a pandemic. The author gives a quantitative assessment of the changes that have occurred, analyzes the features of support measures and the regional policy being implemented. The article examines changes in the parameters of regional budget revenues, budget deficits and debt burden. In addition, the author identifies a group of regions with maximum changes in per capita budget revenues and the factors that caused these changes. The author pays special attention to measures in the field of debt policy, methodology for equalization grant allocation, as well as demographic characteristics affecting regional expenditures. The article presents proposals for possible further improvement of the system of interbudgetary fiscal relations, including approaches to the provision of unconditional gap-filling financial support.

Suggested Citation

  • Mikhail V. Milchakov, 2024. "Fiscal and Financial Situation of the Constituent Entities of the Russian Federation: Medium-term Trends in the Regional Context," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 104-125, April.
    • Handle: RePEc:fru:finjrn:240207:p:104-125
    DOI: 10.31107/2075-1990-2024-2-104-125
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    References listed on IDEAS

    as
    1. Zubarevich, N., 2021. "Regions of Russia during a pandemic: Socio-economic dynamics and budget revenues," Journal of the New Economic Association, New Economic Association, vol. 51(3), pages 208-218.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    intergovernmental fiscal relations; public debt; intergovernmental transfers; regional budgets; budget fiscal capacity index; pandemic;
    All these keywords.

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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