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Regional Budgets in 2017

Alexander Deryugin – Senior Research fellow of Budget Policy Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration; Research fellow of Budget Policy Department of the Gaidar Institute. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Russia’s regional governments continued to see their budget revenues increase in real terms in 2017. On the other hand, they reined in budget expenditures by entering into individual equalisation transfer agreements and restructuring their debt on federal loans, resulting in lowest possible overall budget deficit. However, a total debt accumulated by regional governments remained high for lower-budget regions.

Key words: regional budgets, regional budget revenues, regional budget expenditures, regions’ public debt, public budget loans and bank loans.