Regional Budgets in Q3 2023

Alexander N. Deryugin – Acting Head of Department for Budget Policy of the Gaidar Institute for Economic Policy; Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration; (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

As a result of the accelerated growth of the Russian economy in Q3 2023, the growth rates of tax and non-tax revenues of the consolidated budgets of the subjects of the Russian Federation reached double-digit values, which, while maintaining relatively low growth rates of budget expenditures in Q2 and Q3, became a precondition for high indicators of fiscal balance of regional and local budgets following the results of 9 months of 2023.

Key words: regions’ budgets, revenues of regional budgets, expenditures of regional budgets, intergovernmental fiscal transfers, regional debt.

JEL-codes: H61, H62, H63, H71, H72, H74, H77.