The role of inter-budget transfers in creating conditions for implementation of public-private partnership projects in industry

The purpose of the study is to determine the role of inter-budget transfers in creating conditions for the implementation of public-private partnership (PPP) projects in industry and to develop proposals to improve the effectiveness of their use within the framework of budgetary policy. The paper examines the trends in the development of the PPP market in Russia, the specifics of the industry structure and the current directions of inter-budgetary financing. The empirical base consists of data from the Federal Treasury, the Ministry of Finance of Russia, the Bank of Russia, the Unified PPP Information System and Rosstat for 2019–2023. Methods of comparative analytical and structural analysis, content analysis of normative legal acts, as well as systematization of regional practices are applied. The existing system of inter-budget transfers has an indirect impact on the development of industrial PPP projects, performing mainly a compensatory rather than stimulating function. The lack of investment performance criteria and the inconsistency of inter-budgetary and investment instruments limit the effectiveness of government support. An approach to improving the system of inter-budgetary financing is proposed, based on the differentiation of transfers, taking into account the investment potential of regions, the development of mechanisms for monitoring the effectiveness and digital transparency of budget flows. The scientific novelty of the study is to clarify the role of inter-budget transfers as an institutional tool for creating infrastructural and organizational conditions for attracting private investment in industry. The results can be used to adjust methodological approaches to the allocation of inter-budget transfers and the development of regional industrial development programs based on PPP.