Issue №1, 2016

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Dynamics and structure of the expenditure of the consolidated budget of the Russia’s region (the Komi Republic)

 

E. N. Timushev, Institute for Socio-Economic and Energy Problems of the North Komi Research Center,Ural Branch of the Russian Academy of Sciences (Syktyvkar, Russia)

Full article 

The aim of the research set out in the article is to identify trends in expenditures of the consolidated budget of the Komi Republic allowing for increasing risk of growing of imbalance at budgetary systems of Russia’s regions. The study is based on theoretical studies on issues of balancing and budget expenditures, taking into account the role of the budget in the process of economic development and with a focus on the processes of redistribution of budget funds within the budgetary system of the Komi Republic. It is shown that rising budget deficit and indebtedness of regional budget systems in Russia contradicts the task of macroeconomic stability and balanced budget in a resource-rich country. The fall of real expenditure rate of growth of the consolidated budget of the Republic of Komi since 2014 is represented but social expenditures that was increased in 2009 and since that continued to grow are likely to stabilize with high probability on its current level accounting for the present situation of the economy. Centralizing of budget resources in the budget system are underway: it lowers the opportunity of town, districts and villages’ to finance their own outlays. Meantime the current expenditures are steadily growing. Although all these circumstances may make formal preconditions for economic growth, they actually lower even the potential rates of growth because infrastructure spending and capital expenditure seem to be insufficient. The situation is worsened by growing deficits and debt of the budget.

Keywords: consolidated budget of a Russia’sregion, the Republic of Komi, expenditure, dynamics of expenditures, structure of expenditures, social expenditures, productive expenditures.

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For citation: Timushev E. N. Dynamics and structure of the expenditure of the consolidated budget of the Russia’s region (the Komi Republic) // Corporate governance and innovative economic development of the North: Bulletin of the Research Center of Corporate Law, Management and Venture Capital of Syktyvkar State University. 2016. № 1. P. 136—145.