Approaches to achieving balanced budgets under cyclic economic development from the perspective of improving the treasury technologies of budget liquidity management
Subject The article considers treasury technologies to manage budget liquidity that are aimed at balanced budgets in the face of increasing global economic and political uncertainty. Objectives The purpose of the research is to explore scientific approaches to balanced budgets under cyclic economic development and current Russian realities and trends in the development of treasury technologies under increasing budget constraints. The latter focus on enhancing the efficiency of budget liquidity management. Methods The study rests on dialectical approach. I also use systems and institutional approaches and statistical methods. Results Sustainable development of many regions of Russia is largely dependent on financial possibilities of the Federal budget. The declining oil and gas revenues trigger the risk of cash deficiency in single accounts of the budget system, and, consequently, the risk of default of expenditure obligations of governmental units. Poor quality of financial management of budget fund administrators leads to accumulation of substantial budget liquidity balances in single budget accounts. Conclusions Realizing the new approaches to budget liquidity management, targeting the cash balances in single budget accounts open new financial opportunities in terms of participation of the State in implementation of strategic programs that are important for sustainable economic development and strengthening the global competitiveness of Russia.
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