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Municipal and sub-federal debt market in 2019

Author

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  • Shadrin Artem

    (Gaidar Institute for Economic Policy)

Abstract

At year-end 2019, the regional consolidated budgets and local government off-budget funds’ budgets ran a surplus of RUB 17.4 billion or 0.02 percent of GDP (contraction by around 30-fold over the year). To compare, in 2018 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. In 2019, the budgets of the subjects of the Russian Federation ran a surplus of RUB 15.5 billion, urban districts’ budgets ran a deficit of RUB 16.3 billion, federal-status cities’ inner-city municipalities’ budgets ran a surplus of RUB 0.5 billion, municipal areas’ budgets ran a surplus of RUB 16.0 billion, urban settlements’ budgets ran a surplus of RUB 0.9 billion, local government off-budget funds’ budgets ran a surplus of RUB 12.7 billion. In 2018, the budgets of the 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 deficit of RUB 0.4 billion, municipal areas’ budgets ran a surplus of RUB 6.7 billion, urban settlements’ budgets ran a deficit of RUB 0.2 billion, rural settlements’ budgets ran a deficit of RUB 0.6 billion, local government off-budget funds’ budgets ran a deficit of RUB 2.7 billion

Suggested Citation

  • Shadrin Artem, 2020. "Municipal and sub-federal debt market in 2019," Published Papers ppaper-2020-1041, Gaidar Institute for Economic Policy, revised 2020.
    • Handle: RePEc:gai:ppaper:ppaper-2020-1041
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    More about this item

    Keywords

    Russian economy; regional and 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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