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Public Debt of Russian Regions: Budget Loans as a Sustainability Factor

Author

Listed:
  • E. Yu. Ablaev

    (Center for Macroeconomic Analysis and Short-Term Forecasting, Institute of Economic Forecasting, Russian Academy of Sciences)

  • R. G. Volkov

    (Center for Macroeconomic Analysis and Short-Term Forecasting, Institute of Economic Forecasting, Russian Academy of Sciences)

Abstract

— The article examines the possible impact of the planned write-off of two-thirds of the region’s debts on budget loans on the sustainability of regional debt. Based on the analysis of statistical data on the debts of individual regions, it was concluded that writing off debts will significantly reduce the debt burden on the budgets of the most vulnerable constituent entities of the Russian Federation. At the same time, one of the tasks in this context is maintaining budget discipline in the regions. This will require further development of the sphere of regulation and control of regional finances, including through the mechanisms of fiscal rules at the regional level.

Suggested Citation

  • E. Yu. Ablaev & R. G. Volkov, 2024. "Public Debt of Russian Regions: Budget Loans as a Sustainability Factor," Studies on Russian Economic Development, Springer, vol. 35(6), pages 884-898, December.
    • Handle: RePEc:spr:sorede:v:35:y:2024:i:6:d:10.1134_s1075700724700424
    DOI: 10.1134/S1075700724700424
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    References listed on IDEAS

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    1. Johann Bröthaler & Michael Getzner & Gottfried Haber, 2015. "Sustainability of local government debt: a case study of Austrian municipalities," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(3), pages 521-546, August.
    2. Krasnopeeva, Natalia, 2023. "Revenues and expenditures of Russian regional budgets: Granger causality analysis," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 70, pages 5-33.
    3. Kudrin, Alexey L. (Кудрин, Алексей) & Deryugin, Alexander N. (Дерюгин, Александр), 2018. "Subnational Budget Rules: Foreign and Russian Experience [Субнациональные Бюджетные Правила: Зарубежный И Российский Опыт]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 8-35, February.
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