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Municipal and subfederal loan market

Author

Listed:
  • Shadrin Artem

    (Gaidar Institute for Economic Policy)

Abstract

The regions’ consolidated budgets and the budgets of subnational state off-budget funds ran with a deficit of Rb 178.7bn (0.22% of GDP) at the 2015 year-end. In terms of percentage of GDP, the regions’ consolidated budget deficit was over three times as little as the value recorded in 2014. For example, in 2014, subnational budgets ran a deficit of Rb 485.6bn (0.68% of GDP).

Suggested Citation

  • Shadrin Artem, 2016. "Municipal and subfederal loan market," Published Papers ppaper-2016-258, Gaidar Institute for Economic Policy, revised 2016.
    • Handle: RePEc:gai:ppaper:ppaper-2016-258
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2016-258.pdf
    File Function: Revised version, 2016
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    More about this item

    Keywords

    Russian economy; municipal finances; loan market;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing

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