WAYS TO TRANSITION TO A DEVELOPMENT BUDGET
Leonid Gornin, First Deputy Finance Minister of the Russian Federation
Andrey Ivanov, First Deputy Minister of Economic Development of the Russian Federation
COVID 19 has become a catalyst for the fall in budget revenues in the constituent entities of the Russian Federation. For 9 months of 2020, the own revenues of regional budgets were decreased in 52 constituent entities of the Russian Federation.
While the outlook for regional budgets has dramatically changed as a result of the pandemic, investment will play a key role in accelerating the country's economic recovery.
Issues for discussion:
• Conditions and opportunities for formation of development budgets
• Due to what solutions is it possible to increase the cash fulfillment of the national projects’ budget?
• How to reduce uncertainty with the receipts of funds to regional budgets?
• How to stop the territorial polarization of investments?
• How to increase profitability of investments in the regions?
• Alternative sources of financing for creation of the investment infrastructure
• Implementation of the program to support regional investment projects through budget loan reorganisation