Importance Effective fiscal policy at all levels of public authority under increasing social obligations and reducing revenue base is an important tool to stabilize negative trends and ensure future economic growth. It is impossible to fulfill these tasks in the increasing budget deficit conditions. Budget deficit and public debt increase are important for the subjects of the Russian Federation, as their revenue base depends on inflows from entrepreneurial development in the region. Objectives The study aims to devise proposals with their subsequent approbation in specific calculations oriented to cost minimization of consolidated regional budgets and budget revenue increase. Methods Using statistical methods, I analyzed the composition and structure of expenditures of sub-federal budgets of the Russian Federation, and sources of revenue increase at the regional level. Results In the course of the study, I identified major risks inherent in the implementation of sub-federal budgets of the Russian Federation, developed measures to optimize the costs of regional and local budgets, devised proposals to increase revenues of regional budgets under current macroeconomic conditions. The proposals, which can be implemented at federal and regional levels, focus on reducing the budget deficit and ensuring the balance of sub-federal budgets. Conclusions and Relevance The proposals may be useful for public authorities and local self-governments to prepare fiscal policies and budget estimates.
Keywords: regional budget, public debt, budget balance, cost optimization, income growth
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