Home  Journals  Financial Analytics: Science and Experience  23(257) - 2015 June

The nature of formation and performance of the consolidated budget of the Chechen Republic in 2000-2015

Vol. 8, Iss. 23, JUNE 2015

Article PDF Version

Available online: 19 June 2015

Subject Heading: Economic policy

JEL Classification: 

Pages: 2-12

Importance The research focuses on the consolidated budget of the Chechen Republic. It plays an important role in the region's socio-economic development. Figures of the consolidated budget are significant for forecasting economic and social development. The figures of the consolidated budget are used to estimate various types of budgetary spending and compare them with similar figures of other areas. These aspects make for the research into the specifics of forming and performing the consolidated budget of the Russian region for a long-term period.
     Objectives The objective of the research is to identify the specifics of forming and performing the consolidated budget of the Chechen Republic for the last 16 years. In this respect, we conducted an in-depth analysis of the nature of forming and performing the region's budget over 2000-2015 from structural perspectives.
     Methods To determine the main trends and patterns in the budgetary development of the Chechen Republic, we carry out a structural analysis of performing the consolidated budget for the period under study using various statistical methods. Based on the analysis, we evaluate the effectiveness of the region's fiscal authorities.
     Results As the research reveals, the consolidated budget of the Republic still strongly depends on free contributions from the federal budget, being extremely susceptible to trends in the federal budgetary policy.
     Conclusions and Relevance We substantiate the conclusion of that those charged with the economic policy should solve a number of vital tasks so to increment internally generated income as part of the region's consolidated budget and to completely integrate the Chechen Republic into the single socio-economic environment of the country and global economic processes.

Keywords: Chechen Republic, consolidated budget, region, Budgetary Code, Russian Federation, legal status, budget, budgetary system, income, expense, republican, special-purpose program, financial crisis

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