Programme

Summary

The system of intergovernmental fiscal relations in Russia is constantly being transformed. On the one hand, a quick response to emerging challenges is required, on the other hand, constant adjustment in terms of taking into account the existing regional differentiation is needed.
Governmental loans to regions is a significant instrument of intergovernmental fiscal relations. As of 1 July 2023, the total debt on budget loans reached 2.6 trillion rubles (76% of the total state debt of the regions). In the first half of 2023, regions were provided with budget loans to finance infrastructure projects (94 billion rubles), treasury loans to replenish balances in budget accounts (357 billion rubles) and a new type of treasury loans - loans for the purpose of “advanced financing” of state program events, national projects and a comprehensive plan on upgrading and expanding backbone infrastructure (22 billion rubles).
Budget loans provided in 2023 (473 billion rubles) account for 23.8% of the total volume of IGFTs transferred to regions (62.1% in subsidies, 57.7% in grants).
Thus, budget lending allows subjects to finance a wide range of expenditure obligations, including those related to infrastructure development.
Main questions:
- Budget loans to regions: a financial assistance mechanism that replaces or complements targeted intergovernmental fiscal transfers?
- Infrastructure budget loans: first results of implementation.
- Regional differentiation and its impact on innovations in intergovernmental fiscal relations.

Organizers: Accounts Chamber of the Russian Federation

Reporters

Proposal

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