Preliminary Results of 2024 for Regional Budgets: Problems of Structural Transformation of the Economy

The preliminary results of 2024 indicate that the overall positive dynamics of revenues of the consolidated budgets of the subjects of the Russian Federation. Certain differences in the dynamics of own revenues of regional budgets are observed for regions with the dominance of the manufacturing industry and regions with extractive specialization. The growth of tax revenues in real terms in 2024 took place for personal income tax and taxes on total income. At the same time, there was a reduction in corporate income tax receipts. For a number of subjects of the Russian Federation, the increase in personal income tax receipts did not compensate for the reduction in corporate income tax. Transfer receipts from the federal budget continued to decline, although there was a positive trend in some of them. The change in the structure of gratuitous receipts demonstrates a shift in favor of their target types. The dynamics of regional budget expenditures generally followed the dynamics of income. Financing of only some sections of expenses grew at a rate faster than inflation. The total deficit of the consolidated budgets of the subjects of the Russian Federation at the end of the year turned out to be significantly less than planned. The volume of government sub—federal debt decreased slightly, but at the same time the share of debt on bank loans, the most expensive source of financing, increased.

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