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Finance and Credit
 

Economic security in procurement of budgetary institutions

Vol. 27, Iss. 10, OCTOBER 2021

Received: 7 June 2021

Received in revised form: 28 June 2021

Accepted: 12 July 2021

Available online: 29 October 2021

Subject Heading: Financial system

JEL Classification: H57

Pages: 2365–2383

https://doi.org/10.24891/fc.27.10.2365

Sergei V. ZAITSEV Institute of Economics, Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
voland_home@mail.ru

ORCID id: not available

Arina B. ALIBEKOVA Institute of Economics, Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
arina.alibekova05@gmail.com

https://orcid.org/0000-0001-5695-918X

Anastasiya D. KOROTENKOVA Institute of Economics, Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
nastia09098@gmail.com

https://orcid.org/0000-0003-2888-7590

Sof’ya S. SHISHKINA Institute of Economics, Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
sh.sofia.1998@gmail.com

https://orcid.org/0000-0002-1267-9618

Subject. We consider risks to economic security in procurement of a budgetary institution.
Objectives. The focus is on diagnostics and monitoring of economic security in procurement for subsequent elaboration of recommendations to minimize the impact of threats in the process of ensuring economic security.
Methods. The study draws on the analysis of data from the official website of the ASTU and the Unified Information System for Procurement. We employ statistical and analytical methods to assess the probability of occurrence of adverse events (risk realization).
Results. We reviewed procurement activity of a budgetary institution, produced a map indicating the risks of a budgetary institution, calculated the indicators of economic security in procurement of this type of institutions.
Conclusions. The analysis identified weaknesses of a budgetary institution and risk exposure in procurement. Control and monitoring of the process and its results will enable contractual procurement system to operate with greater stability in terms of economic security. Preliminary control, affecting the effectiveness and efficiency of procurement by means of quality, will also have a great impact. Quality products, works or services are the key to effective procurement.

Keywords: economic security, public procurement, budgetary institution

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