The New Russian Budget System
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The New Russian Budget System
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Author : Mr.Jack Diamond
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-02-01
The New Russian Budget System written by Mr.Jack Diamond and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-02-01 with Business & Economics categories.
This paper documents the main elements of the new budget system established in the Russian Federation through its revised budget system law, or the Budget Code, of 2000. It critically examines the budget preparation, budget approval, and budget execution processes, as well as the financial management and planning procedures that underlie the Budget Code. Based on this analysis, recent developments are discussed and a future reform agenda is indicated.
Budget System Reform In Transitional Economies
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Author : Jack Diamond
language : en
Publisher: International Monetary Fund
Release Date : 2002-02
Budget System Reform In Transitional Economies written by Jack Diamond and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-02 with Business & Economics categories.
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.
Subnational Budgeting In Russia
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Author : Lev M. Freinkman
language : en
Publisher: World Bank Publications
Release Date : 1999-01-01
Subnational Budgeting In Russia written by Lev M. Freinkman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
"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.
The Russian Budget
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Author : Stephen Fortescue
language : en
Publisher: Routledge
Release Date : 2020-05-18
The Russian Budget written by Stephen Fortescue and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-18 with Art categories.
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.
Reforming The Russian Budget System
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Author : Jack Diamond
language : en
Publisher:
Release Date : 2005
Reforming The Russian Budget System written by Jack Diamond and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Budget categories.
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.
Subnational Budgeting In Russia
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Author : Lev Freinkman
language : en
Publisher:
Release Date : 2014
Subnational Budgeting In Russia written by Lev Freinkman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
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.
Decentralization In Regional Fiscal Systems In Russia
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Author : Lev M. Freinkman
language : en
Publisher: World Bank Publications
Release Date : 1999
Decentralization In Regional Fiscal Systems In Russia written by Lev M. Freinkman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Accounting categories.
Abstract: April 1999 - Considering the positive impact decentralization has had on regional economic performance and expenditure structure, Russia's federal government should: Decisively protect local self-governance and budget autonomy; Make intergovernmental fiscal relations more transparent; Develop universal models of interactions between regional and municipal governments; Impose stricter limits on total debt and budget deficits of subnational governments. To shed light on decentralization in Russia, Freinkman and Yossifov examine intergovernmental fiscal relations within regions. To analyze trends, they review channels of fiscal allocation within regions-tax sharing and local transfer schemes. To evaluate the potential impact of various fiscal decentralization patterns on regional economic performance (including growth and the budget deficit), they study data on the structure of 89 Russian consolidated regional budgets for 1992-96. They find that local governments' relative share of Russia's consolidated budget, although substantive (roughly a quarter of the total budget), did not expand after 1994. The federal government's relative role in financing public goods and services declined as the relative role of local governments increased substantially. Local governments collected more revenues in 1996 (6.4 percent of GDP) and spent more than regional governments. They also substantially increased social financing (including health, education, and social protection). Russia made no progress toward a more transparent system for tax assignments. The average level of expenditure decentralization is similar for ethnically Russian regions and national republics and okrugs but revenue arrangements differ greatly. True decentralization has taken place in oblasts and krais, where local authorities are provided with a bigger share of subnational tax revenues. A redistribution model applies in republics and autonomous okrugs, where greater local outlays have been financed through larger transfers from regional governments. Regions near each other tend to have similar budget arrangements-the result of intensive interactions between neighbors and probably supported by the activities of regional associations. The size of a region's territory does not influence decentralization outcomes. Fiscal decentralization seems positively related to the share of education spending in regional budgets. And regions with more decentralized finances tend to experience less economic decline. But budget control is weaker in more decentralized regions. Instability and lack of transparency in intergovernmental fiscal relations provide subnational governments little incentive for responsible fiscal policy. Further decentralization without greater transparency could bring greater debt and deficits. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the unit to study fiscal decentralization in transition economies. Lev Freinkman may be contacted at [email protected].
Evolution Of Russia S Budgetary Policy In The 2000s
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Author : Sergey Drobyshevsky
language : en
Publisher:
Release Date : 2013
Evolution Of Russia S Budgetary Policy In The 2000s written by Sergey Drobyshevsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This paper deals with 2008-2009 crisis which marked a new stage of Russia's budgetary policy. Although the budget situation in Russia is presently much better than in the majority of the developed countries, reservation of high dependence on oil proceeds, observed trends in in the structure of expenditure obligations indicate the preservation of high risks of an unbalanced budget in long term perspective. Provision of budgetary and macroeconomic balance require adoption of urgent measures both in the sphere of tax policy and budget outlays.
Russia S Fiscal Policy In 2017
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Author : Igor Arlashkin
language : en
Publisher:
Release Date : 2018
Russia S Fiscal Policy In 2017 written by Igor Arlashkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
The year 2017 saw some notable changes in the main parameters of the execution of the general government budget of the Russian Federation: the budgetary system's revenue gained nearly 1 percentage point of GDP, while expenditure, on the contrary, lost 1.2 percentage points of GDP. Thus, the revenue volume amounted to 32.6 percent of GDP, and that of expenditure - to 34.1 percent of GDP. As a result, the budgetary system's deficit shrank by 2.2 percentage points of GDP, to 1.5 percent of GDP.
The Transformation Of The Regional Fiscal System In Russia
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Author : Lev Freinkman
language : en
Publisher:
Release Date : 2014
The Transformation Of The Regional Fiscal System In Russia written by Lev Freinkman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The paper looks at the transformation of intergovernment fiscal relations from the point of view of a regional administration in Russia. It also describes changes in local fiscal management. The Yaroslavl region faces a set of budgetary problems typical for Russian regions in the transition, ranging from budget preparation and managements, scale of extrabudgetary financing and expenditure verification. The paper shows what the actual priorities of regional government policy are, how these priorities are determined and through which channels and mechanisms they are implemented. Between 1990 and 1993, the manner in which the oblast's budget was prepared, approved, and implemented changed considerably, as did the relationship between the oblast and the federal authorities. However, many vestiges of the former system remain. The central government still exerts control over some aspects of the regional budgets, and oblast, city and rayon budgets are not fully separated. But decentralization is proceeding at a brisk pace, faster than the federal authorities can codify the rules for the game. The resulting uncertainty sets the stage for bargaining with the central government and rent-seeking behavior on the part of the region. The allocation of expenditures between federal and regional governments continues to be a very murky process, particularly with respect to the so-called 'national economy' expenditure terms, which include expenditures on industry, agriculture, transport, and other infrastructure. The shift in expenditure responsibility in the social areas, however, has been consistent almost all such responsibilities have been devolved down to the regions, cities and rayons.