Features of regional budget formation in modern economic realities

The article examines the issues of formation and expenditure of budget funds in the subjects of the Russian Federation. In the current geopolitical situation, sanctions from unfriendly countries, and the consequences of the most difficult coronavirus crisis, fiscal policy priorities include strengthening the financial base of regional budgets. At the same time, the task is to save budget funds, allocate subsidies and other inter-budgetary transfers, and strengthen the independence of regional budgets The subjects of the Russian Federation, in the context of international sanctions, changed the vector of foreign economic activity in a short time. Thus, over the past three years, the volume of exports and imports within the BRICS countries has increased significantly, and in the currencies of these countries. Spatial development of all subjects of the Russian Federation, without exception, is necessary.