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Stability of regional budgets under sanctions in 2022-2024

Author

Listed:
  • Zemlianskii,, D.

    (ussian Presidential Academy of National Economy and Public Administration (RANEPA), Centre for economic geography and regional studies at RANEPA, Moscow, Russia)

  • Klimanov, V.

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Centre for economic geography and regional studies at RANEPA, Moscow, Russia)

Abstract

In 2022, in the first few months after the introduction of sanctions, negative forecasts for the state of regional budgets were formed. Due to the gradual introduction of sanctions and the adaptability of the Russian economy, the negative consequences were moderate or, in some situations, delayed. This article is devoted to the analysis of the processes of transformation of the parameters of regional budgets after 2022, risk factors and sustainability of regional finances. The article is based on the analysis of data from the Federal Treasury of Russia, open data from the Electronic Budget portal, data from the Ministry of Finance of Russia, Russian Federal State Statistics Service. The key realized risk was the price increase, which offset a significant portion of the nominal increase in revenue from other sources of income. The most important factor in the sustainability of regional budgets is an increase in personal income tax receipts in the face of a shortage of personnel. A separate issue in the article is the combination of anti-crisis and systemic policies of the Government of the Russian Federation for the development of Russian regions through debt instruments in the period after 2022. Despite the statistical growth of the budget independence of the regions, the real capabilities of the subjects are decreasing due to the increasing dependence of spending directions on targeted inter-budget transfers.

Suggested Citation

  • Zemlianskii,, D. & Klimanov, V., 2025. "Stability of regional budgets under sanctions in 2022-2024," Journal of the New Economic Association, New Economic Association, vol. 66(1), pages 308-316.
    • Handle: RePEc:nea:journl:y:2025:i:66:p:308-316
    DOI: 10.31737/22212264_2025_1_308-316
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    References listed on IDEAS

    as
    1. E. Yu. Ablaev & R. G. Volkov, 2024. "Public Debt of Russian Regions: Budget Loans as a Sustainability Factor," Studies on Russian Economic Development, Springer, vol. 35(6), pages 884-898, December.
    2. Anastasia M. Matevosova, 2024. "The Impact of the Regional Public Debt Level on Regional Economic Growth Rates in Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 61-81, August.
    3. S. M. Drobyshevsky & Yu. N. Perevyshin & S. G. Sinelnikov-Murylev & P. V. Trunin, 2025. "Reasons for accelerating inflation in the Russian economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    4. Klimanov, V. & Mikhaylova, A., 2021. "Fiscal decentralization in pandemic and post-pandemic times," Journal of the New Economic Association, New Economic Association, vol. 51(3), pages 218-226.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    regions of Russia; regional development; consolidated budgets of subjects; sanctions; public debt;
    All these keywords.

    JEL classification:

    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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