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Regional Budgets: Debt Reductions Amid Austerity

Author

Listed:
  • Deryugin Alexander

    (Gaidar Institute for Economic Policy)

Abstract

In May–June 2016, there was an insignificant growth of regional revenues together with restraint of spending growth, which resulted in contraction of regions’ public debt. Moreover, tight commercial loans were partially replaced by the budget loans. In the meantime, overall low income growth rates commenced since the turn of the year and restrictions on borrowings will not allow regions to achieve positive growth rates of budget spending in real terms and, thus, depart from the austerity policy.

Suggested Citation

  • Deryugin Alexander, 2016. "Regional Budgets: Debt Reductions Amid Austerity," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 6-9, August.
    • Handle: RePEc:gai:recdev:recdev-2016-8-707
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    File Function: Revised version, 2016
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY; Russian Economy;

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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