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Russia’s Municipal and sub-federal debt market in 2018

Author

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  • Shadrin Artem

    (Gaidar Institute for Economic Policy)

Abstract

According to the 2018 year-end data, the regional consolidated budgets and local government off-budget funds’ budgets ran a surplus of RUB 512.9 billion or 0.49 percent of GDP. To compare, the regional consolidated budgets and local government off-budget funds’ budgets ran a deficit of RUB 61.5 billion or 0.07 percent of GDP in 2017. In 2018, the budgets of subjects of the Russian Federation ran a surplus of RUB 491.5 billion, urban districts’ budgets ran a deficit of RUB 0.8 billion, federal-status cities’ inner-city municipalities’ budgets ran a surplus of RUB 0.4 billion, municipal areas’ budgets ran a surplus of RUB 16.0 billion, urban and rural settlements’ budgets ran a surplus of RUB 3.5 billion, local government off-budget funds’ budgets ran a surplus of RUB 2.7 billion.

Suggested Citation

  • Shadrin Artem, 2019. "Russia’s Municipal and sub-federal debt market in 2018," Published Papers ppaper-2019-963, Gaidar Institute for Economic Policy, revised 2019.
    • Handle: RePEc:gai:ppaper:ppaper-2019-963
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2019-963.pdf
    File Function: Revised Version, 2019
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    More about this item

    Keywords

    Russian economy; regional and municipal finances; borrowing structure; domestic bonds;
    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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