In the context of limitation of government expenditures, efficiency of their spending should be improved. The quality of budget governance can be improved by using a comprehensive approach only that will help to cover the broadest range of the applied regulating tools and to align their...

The distinctive features of the draft federal budget for 2022-2024 are an uptick in the revenue side of the budget, a noticeable reduction in the share of GDP of budget expenditures and their redistribution compared to the pandemic structure of public spending, maintaining a surplus balance. The...

The draft federal budget for 2022–2024 can be characterized by insignificant growth in budget revenues, substantial reduction in shares of GDP of budget expenditures and reallocation thereof as compared with the pandemic-related pattern of public expenditures and budget surplus. On a...

At present, the State Duma is reviewing the draft federal budget in 2018–2020, which is characterized by a conservative forecast of the price of oil, dramatic reduction of the expenditures as a result of new budget rules being applied and a high level of state borrowings. In addition, with the...

The draft of the federal budget for the coming three years has clear features of the budget for development: it is aimed both at ongoing financing of anti-crisis measures and at the implementation of long-term national projects. Proactive fiscal policy amidst the decrease in tax and non-tax...

We review the application of cyclically balanced budget rules in Switzerland and Chile. The budgets of these countries, drawn up based on the cyclical balance rule, have improved their primary indicators of fiscal sustainability (the level of public debt, primary surplus)

As demonstrated by the period-end results of H1 2017, the dynamic displayed by the main parameters of the federal budget points to revenue growth by 1.8 p.p. of GDP and expenditure decline by 0.8 p.p. of GDP relative to the corresponding period of the previous year. The upshot has been a...

The key parameters of the federal budget showed faster growth of revenues over expenditures at the end of Q1 2017 compared with Q1 2016. Thus revenues increased by 2.7 p.p. of GDP as budget expenditures gained 0.8 p.p. of GDP. As a result, the budget deficit was curtailed to 1.4% of GDP and the...

According to the data released by the Federal Treasury, at month-end January 2016 the federal budget revenue came to 20.6% of GDP down 5.3 p.p. of GDP against the first month of the previous year. In January 2016 against January 2015, contraction of the federal budget expenditure constituted...

We analyze dynamic of budget receipts, federal budget expenditures and assets in the National Wealth Fund for January-April 2020. Over the period, the federal budget was executed with a surplus, however one should remember that oil and gas revenues reflect the changes on the market the same...