Problems related to regional budgeting amid fiscal consolidation
Автор: Povarova Anna I.
Журнал: Economic and Social Changes: Facts, Trends, Forecast @volnc-esc-en
Рубрика: Public finance
Статья в выпуске: 2 (56) т.11, 2018 года.
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The development of the major financial plan of the Vologda Oblast for 2018-2020 was carried out amid stagnating GRP growth rates, a sharp decline in investment activity, further decrease in population's real money incomes. In this regard, conceptual approaches to budgeting, which should be determined in view of its orientation on providing conditions for future sustainable development, is becoming more relevant. However, according to the study, the concept of a new financial cycle is based on fiscal consolidation, which is reflected in extremely low average annual growth rates of own revenues and budget expenditure which do not compensate for inflation. Such approaches to regional budgeting are predetermined by federal guidelines, which absolutize the principle of achieving surplus at the cost of reducing the funding of the territory's future development. Year after year, the opportunities of using budget as a tool for triggering the investment policy are being missed...
Budget planning, regional budget, fiscal consolidation, budget surplus, own revenues, expenditure, debt load, inter-budget policy
Короткий адрес: https://sciup.org/147224031
IDR: 147224031 | DOI: 10.15838/esc.2018.2.56.7
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