Development of Methods Ensuring Balanced Budgets in the Medium Term

L.V. Bogoslavtseva, O.Y. Bogdanova, O.I. Karepina, O.S. Dzhu
International Journal of Economics & Business Administration, Volume VII, Special Issue 1, 467-476, 2019

Abstract:

Purpose: The study aims to identify the prospects for the application of modern methods of balancing the budgets of the constituent entities of the Russian Federation. Design/Methodology/Approach: The formation of balanced budgets of the constituent entities of the Russian Federation is intended to provide funding for priority expenditures of the regions effectively, predetermining the need to identify the features of the implementation of scientific theories about the balance of budgets, to highlight the problems of the budget legislation of the Russian Federation and to determine the prospects for the use of traditional and new market methods of regulating the basic parameters of budgets. Findings: Authors grounded the need for complex application of methods of balancing budgets for the main parameters to increase tax and non-tax revenues, the formation of expenses regarding their optimization and efficiency, weighted debt policy, improving intergovernmental relations. The authors recommended the development of standards for applying methods of balancing budgets. Practical implications: The results of the study can be considered in the practice of forming the basic parameters of the budgets of the constituent entities of the Russian Federation in the context of limited budget funds to strengthen budget revenues. Originality/Value: The main contribution of this study is to justify the complexity of the application of methods of balancing budgets, as well as to shift the emphasis on the regulation of domestic debt relations in the context of economic uncertainty.


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