Importance Export revenue shortfalls in the oil and gas sector and high dependence of sub-federal budget revenues and expenditures on Federal intergovernmental transfers aggravate contradictions in the system of inter-budgetary relations and necessitate new intergovernmental fiscal arrangements focused on an increasingly larger role of direct participants of the system. Objectives The study aims to define specific parameters of existing relationships between the Federal level intergovernmental transfers and consolidated sub-Federal budget revenues. Another purpose is to search for financial instruments enabling to form build new economic intercourse in the sphere of inter-budgetary relations. Methods The paper employs economic, statistical and analytical methods. Results Under Federal budget deficit, in 2014–2016 it was impossible to continue maintaining the level of local and regional budget expenditures through transfers from the Federal budget. As a result, a simultaneous reduction in both the intergovernmental transfers and consolidated budget expenditures of constituent entities of the Russian Federation can be observed. The findings may help develop new financial and organizational tools to implement intergovernmental transfers when building the basis of digital economy. Conclusions I suggest creating and introducing financial tools to implement the inter-budgetary relations based on the blockchain technology. This should become one of priority projects of strategic socio-economic development and will contribute to overcoming accumulated system contradictions in inter-budget relations under the permanent adaptation of the budget system to the emerging digital economy challenges.
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