Regional Budgets in H1 2018

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

According to the results of H1 2018, the growth rates of revenues of consolidated budgets of constituent entities of the Russian Federation largely exceeded the current level of the rate of inflation, so, at year-end most regional and local budgets can expect growth in their real incomes. A recent decrease in the debt burden of the less well-off constituent entities is another evidence of the financial situation getting back to normal at the regional level.

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