Download or read book Subnational Budgeting in Russia written by Lev M. Freinkman and published by World Bank Publications. This book was released on 1999-01-01 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Not only are Russia's regions economically diverse, but the policies that regional governments have adopted to deal with the strains of economic transition also vary widely. Some regions have generally embraced market reforms, while others have sought to preserve enclaves of socialism, with price restrictions, large subsidies, and barriers to trade." Reforms of Russia's budgetary system at the subnational level are vital to preserve macroeconomic stability, improve the efficiency and accountability of government, and enhance incentives for local and regional governments to vigorously support economic growth. Previous analytical and reform efforts have focused on possible changes at the federal level and in the system of center-region relations. An opportunity now exists to make progress by providing reform advice and conditional aid to policymakers at the regional and subregional level. This report focuses on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.

Download or read book Budgeting in Russia written by Dirk-Jan Kraan and published by . This book was released on 2010 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Russian Budget written by Stephen Fortescue and published by Routledge. This book was released on 2020-05-18 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Russian budget process has received little detailed attention in academic literature. Here various key aspects of the formation of the federal budget, largely since Vladimir Putin began his third presidential term in 2012, are examined. It is primarily the writing of the expenditure side of the budget which is described, that is, how it is decided how much money is spent on what. While ample information is provided on budgetary outcomes, the focus is on the process: the issues faced by budget makers, the actors and institutions involved, and the formal and informal procedures that lead to outcomes. It is not the task of the volume to provide an analysis of the wisdom or effectiveness of particular budget allocations; its goal is to provide some judgement on the effectiveness of the process. Chapters are offered on the budgetary process as it relates to the two main claimants on federal budget funding, the social and defence sectors. Three chapters then examine the major locations of budgetary policy-making: the executive (at presidential and cabinet of ministers levels), the Duma, and the expert community. This book was originally published as a special issue of Post-Communist Economies.

Download or read book Subnational Budgeting in Russia written by Lev Freinkman and published by . This book was released on 2014 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most previous fiscal reforms in Russia have focused on problems at the federal level or in the system of federal transfers to the regional governments. This report focuses instead on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.Key directions for subnational fiscal reform include the following.Clarification of Subnational Government Functions. Subnational governments need to complete the clarification of responsibilities between public and private sectors as well as between regional and municipal government levels. Both of these have direct implications for fiscal performance of subnational governments.Developing a Regulatory Framework. Subnational governments need to adopt regional and local laws and regulations that are consistent with federal laws and enhance the transparency, predictability, and accountability of the budget process. Laws and regulations should clarify responsibilities within regional and local governments and legislatures for budget preparation, approval, implementation, and control.Budget Consolidation. Major forms of off-budget activities (especially extrabudgetary funds, tax exemptions, budget guarantees, and noncash government operations) need to be reduced in scope and integrated within the regular budget.Budget Preparation and Expenditure Management. Necessary reforms cover several key areas: (i) reorganization of budget classification system; (ii) introduction of expenditure accounting on the commitment basis; (iii) establishing a treasury system of budget execution; (iv) expansion of competitive tendering for public procurement; (v) introduction of new budgeting principles in key sectors (such as education and health); (vi) improvements in budget preparation to reduce the need for budget sequestration; (vii) strengthening the budget audit function; and (viii) adoption of standards for budget disclosure.

Download or read book Russian Federation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-10-30 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance paper on the Russian Federation provides a summary of the changes to Russia’s fiscal transparency practices since 2014 and makes recommendations for further improvements. Russia has made important progress in enhancing the coverage and detail of fiscal reporting since 2014, but assurances of the quality and integrity of fiscal reporting remain incomplete. Reforms to the statistical treatment of taxes and nonfinancial assets have improved the comparability of budgets, statistics, and accounts but transparent reconciliations between the three are still not provided. It is imperative to make Rosstat fully independent of government and produce and publish metadata explaining in an accessible way how the main fiscal indicators or datasets are compiled. The ministry of finance has initiated an annual assessment of the quality of loans and will begin writing-down the value of doubtful debts from 2020. Separate detailed reconciliations of changes to revenue and expenditure are included in the documentation accompanying the annual budget.

Download or read book Russian Federation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2014-05-26 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the pilot Fiscal Transparency Evaluation for the Russian Federation. Most aspects of Russia’s fiscal reporting and budgeting practices are in line with good or advanced practice under the July 2013 draft of the Fiscal Transparency Code. The disclosure and management of fiscal risks has significantly improved in recent years. The evaluation highlights a number of important areas where fiscal transparency practices could be further improved. Addressing these gaps in fiscal transparency practices would enable the government to provide a more complete picture of its fiscal position, prospects, and risks.

Download or read book Budget System Reform in Transitional Economies written by Jack Diamond and published by International Monetary Fund. This book was released on 2002-02 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper stresses the role of budget system reform in economies in transition as an essential basis for the implementation of effective fiscal policies. However, introducing such structural reforms in often unstable economic environments has not proved easy. Using Russia as a case study, the magnitude of the problems faced is documented, and the strategy of reform eventually adopted is critically reviewed. In conclusion, some lessons are drawn for other transitional countries undertaking similar reforms, and the future agenda for completing these reforms in Russia is indicated.

Download or read book Reforming Regional local Finance in Russia written by Jorge Martinez-Vazquez and published by World Bank Publications. This book was released on 2006-01-01 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exposition is based on an analytical framework covering all ?building blocks? of fiscal federalism: size and structure of jurisdictions, expenditures, revenues, transfers, and borrowing. The application of this framework to Russian settings results in a comprehensive assessment of the state of intergovernmental fiscal relations in Russia.

Download or read book Mounting Pressure on Russia s Government Budget written by Janis Kluge and published by . This book was released on 2019 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic stagnation and demographic change in Russia are putting intense pressure on the government budget. Tax revenues have been declining since the late 2000s. Meanwhile, the oil dependency of Russia's budget has increased significantly. This became patently clear when the oil price plummeted in 2014. Energy revenues have since begun to recover, but the Finance Ministry's reserves have shrunk considerably and are only slowly being replenished. To keep public budgets stable, the Russian government is forced to raise taxes and extend the retirement age in the years to come. There is a widening gap in funds required to cover the paternalistic social policies of earlier years. At the same time, the struggle for control of public resources is having a destabilizing effect on the political regime - especially in light of the ever more pressing question of Putin's successor in the Kremlin. Up to the presidential election of 2018, the Russian leadership avoided making any budget cuts that would have hurt key clientele groups: retirees and the military-industrial complex. Additional income was generated instead through a series of smaller budgetary adjustments. Shortly after the start of Putin's fourth term, however, tax raises and a higher retirement age were announced, which lead to drastic declines in the president's approval ratings. As a reaction to shrinking funds, budget policy is now being controlled in a more centralized way by Moscow, while public oversight of government budgets has been restricted. Shadow budgets have also emerged outside the purview of the finance administration. In this complex and politically tense situation, conflicts between elites are erupting with increasing frequency, bearing risks for Putin's fourth term in office.

Download or read book Capital Management and Budgeting in the Public Sector written by Srithongrung, Arwiphawee and published by IGI Global. This book was released on 2019-01-11 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: To create an enhanced quality of life, attract business relocation, and enhance equity in access to public infrastructure, governmental bodies must take certain precautions with their money. Budgeting at such a high level requires careful evaluation and research that addresses every aspect of financial management. Capital Management and Budgeting in the Public Sector provides emerging research exploring the theoretical and practical aspects of long-term capital planning, annual capital budgeting, capital budget execution, and public spending evaluation. Featuring coverage on a broad range of topics such as fiscal federalism, political regime, and project execution management, this book is ideally designed for managers, accountants, professionals, practitioners, and researchers working in the areas of public finance and/or international development.

Download or read book The New Russian Budget System written by Jack Diamond and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming the Russian Budget System written by Mr.Jack Diamond and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-05-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Russian federal government has recently initiated a fundamental reform of its budget system, encompassing important policy, procedural, and institutional changes. This paper reviews this reform agenda with reference to the experience of industrial countries that over the past two to three decades have followed a similar reform path toward a more devolved budget management system. From this perspective, the importance of the strength of existing public expenditure management systems to accommodate increased devolution and the scope for employing decentralized agencies is explored. An assessment of the present Russian reform plans in light of this review reveals a number of concerns. First, the speed of the reforms contemplated appears overly ambitious when judged by the experience of other countries. Second, the preparedness of budget institutions is questionable. Third, change management capacity needs strengthening with a more carefully defined strategy. Last, in light of these concerns, it is argued that the scope and "big-bang" approach of the current reform plans may need reformulation into a more sequenced strategy with clearer reform priorities.

Download or read book Russia s State Budget in January July 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury data, over January-July 2015, Russia's federal budget revenues contracted 1.3 p.p. of GDP, and expenditures went up 3.3 p.p. of GDP on the same period of the previous year. Revenues and expenditures of the consolidated budgets of the constituents of the Russian Federation over six month of the current year up 1.0 and 0.3 p.p. of GDP on six months of the previous year, respectively. The federal budget deficit for January-July 2015 constituted 2.8% of GDP, which is down 4.4 p.p. of GDP of the federal budget balance over seven months last year. Consolidated budget of the subjects of the Russian Federation by the period-end for six months 2015 was executed with a surplus of 1.0% of GDP or up 0.7 p.p. against six months 2014. The quality of state government and effectiveness of budget expenditure are becoming dominant domestic factors of budget system sustainability, its ability to adjust to risks amid falling prices on hydrocarbons and economic growth slowdown.

Download or read book Reform of the Budgeting Process in Russia written by and published by . This book was released on 2005 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Russia s State Budget in January April 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the recent data released by the Federal Treasury, within January-April 2015 the federal budget revenues fell by 0.6 p.p. of GDP and the expenses went up by 4.7 p.p. of GDP on the same period of the previous year. Revenues and expenses of the consolidated budget of the subjects of the Russian Federation over January-March 2015 went up by 1.1 and 0.3 p.p. of GDP respectively. The amount of the federal budget deficit for the first four months of 2015 constituted 4.7% of GDP, while the consolidated budget of RF subjects over January-March of 2015 has been executed with a surplus of 1.5% of GDP. Dynamics of the main parameters of the federal and consolidated budgets of RF subjects post a variety of trends and confirm both most optimistic projections about the end of the acute phase of the Russian economic crisis and the most pessimistic projections about the GDP contraction by 2.5% by the year-end of 2015. A number of interrelated factors both internal and external and their unpredictability have aggravated the problem of feasibility of socio-economic development forecast for selecting main parameters of the budgetary system of the Russian Federation for the medium term.

Download or read book Russia s State Budget in January September 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury, as of the period-end results for January-September 2015 the federal budget revenues contracted 1.3 p.p. of GDP and expenditures went up 2.4 .p. of GDP in comparison with the same period of the previous year. Revenues and expenditures of the consolidated budget of the constituents of the Russian Federation over eight months of the current year against the same period of the previous year increased by 0.6 and 0.2 p.p. of GDP, respectively. The federal budget deficit as of the period-end results for January-September 2015 came to 1.5% of GDP which is by 3.7 p.p. of GDP lower than the federal budget surplus over nine months of the previous year. Consolidated budget of the constituents of the Russian Federation as of the period-end results for eight months of 2015 was executed with a surplus of 1.0% of GDP or up 0.4 p.p. against January-August of the previous year. Reduction of the federal budget deficit in the medium-term remains the principal task of the RF Government. Anton Siluanov the Russian Finance Minister noted that as of the current year-end the federal budget deficit would not exceed 3% of GDP. Draft 2016 federal budget was also compiled with a deficit of 3% of GDP. However, in the coming 2017-2018 the federal budget deficit will be decreasing by a minimum of 1 p.p. of GDP annually. Despite the firm Finance Ministry stance against the increase of the federal budget expenditure1 reduction of the federal budget expenditure is limited in the medium-term and even during the execution of the current budget, the federal government is forced to take decisions which result to an increase in the budgetary allocations.

Download or read book Russia s Economic Development and Federal Budget written by Svetlana Kadomtseva and published by . This book was released on 2014 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the dynamics of Russia's GDP and examines the role of the federal budget in the country's transition to innovative development. It describes the structure of the federal budget's revenues and expenditure, as well as ways of making it better balanced.