Participatory budgeting development as territory's budget potential growth factor

The article is devoted to participatory budgeting as a relevant factor contributing to the growth of territories’ budget potential in the modern world practice. The aim of the work is to identify the factors hindering the development of participatory budgeting in Russia. To achieve this goal, a set of scientific methods was used: statistical analysis, comparative analysis, and sociological methods. It is proved that participatory budgeting can become an effective tool for increasing the efficiency of forming and using the territory’s budget potential to improve the quality of life of the population. It is noted that in the Russian Federation, self-taxation and initiative budgeting (people’s budget, people’s initiative, youth budget, etc.) correspond to the tasks of involving the population in the budget process. Based on the reports of the Federal Treasury of Russia, state authorities and local governments, the development of self-taxation and initiative budgeting is analyzed in dynamics. This made it possible to reveal the trend of accelerated growth of participatory budgeting tools in certain regions of the Russian Federation. Using sociological methods allowed us to study the perception of self-taxation and initiative budgeting in the population estimates. The examples of successful practices in the development of participatory budgeting in some foreign countries (in particular, in India and South Korea) are presented. They can be used when developing participatory budgeting in Russia. The scientific novelty of the research consists in identifying the key factors hindering the development of participatory budgeting in the Russian Federation, and suggesting appropriate ways to minimize them. The materials of the article can be used by teachers of higher educational institutions in the course of training, by researchers as a research base. The results of the work can also be taken into account when implementing the budget process at the municipal level.