Fiscal Federalism and Financial Stabilization
From the standpoint of interbudget relations, the current situation is unique in that the consolidated budget deficit is entirely concentrated at the federal budget level, while the principal reserves for reducing irrational budget spending (above all, economically and socially ineffective subsidies to different branches of the national economy) are concentrated at the regional budget level. In connection therewith, requirements of the financial stabilization program should be taken into account in the process of reforming relations among different levels of the budget system.
Volume (Year): 39 (1996)
Issue (Month): 1 (May)
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