Title: Russia’s Market for Municipal and Subfederal Borrowings in 2014
Abstract: This paper deals with Russia’s market for municipal and sub-federal borrowings. Based on the results of 2014 the consolidated regional budget and the budgets of the territorial state non-budgetary funds were executed with a deficit of Rb 485.6bn (or 0.68% of GDP). Compared with 2013 the amount of deficit of the consolidated regional budget, as a proportion of GDP, decreased 1.4 times, while the deficit of the territorial budgets in 2013 was Rb 625.5bn (or 0.94% of GDP). In 2014 the budgets of the constituent entities of the Russian Federation were executed with a deficit of Rb 393.2bn, the budgets of the city districts – with a deficit of Rb 38.4bn, those of the intra-city municipal formations of Moscow and St. Petersburg – with a surplus of Rb 1.2bn, the budgets of the municipal districts – with a deficit of Rb 20.1bn, the budgets of urban and rural settlements – with a surplus of Rb 2.6bn, and the budgets of territorial state non-budgetary funds – with a deficit of Rb 37.8bn.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: article
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