Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality
At present in Russia there is a need to improve the quality of budget policy as the most important element of state policy, and Moscow is undoubtedly the leading region for its implementation. The purpose of the study is to determine whether Moscow's budget policy can respond to the challenges...
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| Format: | Article |
| Language: | English |
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Financial Research Institute
2023-10-01
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| Series: | Финансовый журнал |
| Subjects: | |
| Online Access: | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2023/5/statii/05_5_2023_v15.pdf |
| _version_ | 1797630739966066688 |
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| author | Vladimir V. Klimanov Anna A. Mikhaylova Zoya I. Egorsheva |
| author_facet | Vladimir V. Klimanov Anna A. Mikhaylova Zoya I. Egorsheva |
| author_sort | Vladimir V. Klimanov |
| collection | DOAJ |
| description | At present in Russia there is a need to improve the quality of budget policy as the most important element of state policy, and Moscow is undoubtedly the leading region for its implementation. The purpose of the study is to determine whether Moscow's budget policy can respond to the challenges of the new reality through the instrument of state programs. To achieve this goal, the article considers the retrospective of Moscow budget execution in terms of expenditures, paying special attention to the program structure of expenditures. With the help of statistical and analytical methods the authors analyze the dynamics of budget expenditures distribution within the framework of Moscow state programs, and examine the approved and executed budgets and the percentage of deviation of the executed expenditures from the initially approved ones by subprograms. It is concluded that the Moscow budget is quite adaptive. The dynamics of budget expenditures shows that the distribution of budget allocations has been adjusted due to the need of the megapolis to respond to various challenges. If earlier such challenges included the need to fight the COVID-19 pandemic, now it is a tense foreign policy situation and sanctions from unfriendly states. |
| first_indexed | 2024-03-11T11:12:25Z |
| format | Article |
| id | doaj.art-5bceba8157aa49e6bf9eede4ee675afa |
| institution | Directory Open Access Journal |
| issn | 2075-1990 2658-5332 |
| language | English |
| last_indexed | 2024-03-11T11:12:25Z |
| publishDate | 2023-10-01 |
| publisher | Financial Research Institute |
| record_format | Article |
| series | Финансовый журнал |
| spelling | doaj.art-5bceba8157aa49e6bf9eede4ee675afa2023-11-11T20:12:02ZengFinancial Research InstituteФинансовый журнал2075-19902658-53322023-10-01155799310.31107/2075-1990-2023-5-79-93Moscow Budget Policy: Opportunities for Responding to the Challenges of the New RealityVladimir V. Klimanov0https://orcid.org/0000-0001-9282-0812Anna A. Mikhaylova1https://orcid.org/0000-0003-0831-2554Zoya I. Egorsheva2https://orcid.org/0000-0002-3898-6253RANEPA, Moscow, Russian Federation; Autonomous Non-Commercial Organization “Institute for Public Finance Reform”, Moscow, Russian FederationRANEPA, Moscow, Russian Federation; Autonomous Non-Commercial Organization “Institute for Public Finance Reform”, Moscow, Russian FederationRANEPA, Moscow, Russian FederationAt present in Russia there is a need to improve the quality of budget policy as the most important element of state policy, and Moscow is undoubtedly the leading region for its implementation. The purpose of the study is to determine whether Moscow's budget policy can respond to the challenges of the new reality through the instrument of state programs. To achieve this goal, the article considers the retrospective of Moscow budget execution in terms of expenditures, paying special attention to the program structure of expenditures. With the help of statistical and analytical methods the authors analyze the dynamics of budget expenditures distribution within the framework of Moscow state programs, and examine the approved and executed budgets and the percentage of deviation of the executed expenditures from the initially approved ones by subprograms. It is concluded that the Moscow budget is quite adaptive. The dynamics of budget expenditures shows that the distribution of budget allocations has been adjusted due to the need of the megapolis to respond to various challenges. If earlier such challenges included the need to fight the COVID-19 pandemic, now it is a tense foreign policy situation and sanctions from unfriendly states.https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2023/5/statii/05_5_2023_v15.pdfmoscow budget policymegapolis financesfinancial sustainabilitystate programs and projects |
| spellingShingle | Vladimir V. Klimanov Anna A. Mikhaylova Zoya I. Egorsheva Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality Финансовый журнал moscow budget policy megapolis finances financial sustainability state programs and projects |
| title | Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality |
| title_full | Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality |
| title_fullStr | Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality |
| title_full_unstemmed | Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality |
| title_short | Moscow Budget Policy: Opportunities for Responding to the Challenges of the New Reality |
| title_sort | moscow budget policy opportunities for responding to the challenges of the new reality |
| topic | moscow budget policy megapolis finances financial sustainability state programs and projects |
| url | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2023/5/statii/05_5_2023_v15.pdf |
| work_keys_str_mv | AT vladimirvklimanov moscowbudgetpolicyopportunitiesforrespondingtothechallengesofthenewreality AT annaamikhaylova moscowbudgetpolicyopportunitiesforrespondingtothechallengesofthenewreality AT zoyaiegorsheva moscowbudgetpolicyopportunitiesforrespondingtothechallengesofthenewreality |