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Municipal and sub-federal debt market in 2020

Author

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  • Shadrin Artem

    (Gaidar Institute for Economic Policy)

Abstract

The crisis phenomena in the global and Russian economy directly related to the introduction of quarantine measures in 2020, led to the deficit of the consolidated regional budget. At end-2020, the consolidated regional budget and the budgets of territorial state extra-budgetary funds ran a deficit of Rb667.4 bn, or 0.63% of GDP. To compare, in 2019 the consolidated regional budget and the budgets of territorial state extra-budgetary funds ran a surplus of Rb17.4 bn, or 0.02% of GDP.

Suggested Citation

  • Shadrin Artem, 2021. "Municipal and sub-federal debt market in 2020," Published Papers ppaper-2021-1120, Gaidar Institute for Economic Policy, revised 2021.
    • Handle: RePEc:gai:ppaper:ppaper-2021-1120
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2021-1120.pdf
    File Function: Revised Version, 2021
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    More about this item

    Keywords

    Russian economy; regional and municipal finances; loan market; debt market;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing
    • H76 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other Expenditure Categories

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