Independence Decrease and Centralization: Analysis of Expenditures of the Consolidated Budget of the Komi Republic
Fiscal policy in a resource-rich and thus exposed to external factors country has to pay special attention to balancing the budget system. To analyze expenditures of the consolidated budget of the Komi Republic some theoretical approaches were applied, namely productive expenditures conception, some balance between current and capital expenditures and requirements of independence and a clear division of authority in multi-level budgetary systems. It is shown that from 2012 there grows the deficit of the republican budget of the Komi Republic while expenditure rate of growth is falling. It is accompanied by the centralization of budget funds and decrease of independence of local budgets. The current expenditures are steadily growing and capital expenditures falling. The rise of productive expenditures is due to increased education spending, but it is unlikely to cause sustainable economic growth because of centralization, descending infrastructure spending and capital expenditures, rise of deficit and debt, decrease of independence.
Volume (Year): 4 (2016)
Issue (Month): (August)
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