Over the past few years, the system of interbudgetary relations has changed greatly. If we look at the results achieved to date, it is obvious that significant progress has been made in terms of maintaining balanced regional budgets.
However, at the moment the regions are facing a crippling burden of current social spending and a lack of funds available for investment, including as part of the implementation of the Executive Order signed by the Russian President in May.
On September 6, representatives of federal and regional governments participating in the third Moscow Financial Forum will seek to understand how the system of interbudgetary relations should be developed going forward.
As part of the discussion titled "Interbudgetary Relations: Choosing Priorities", they will address a number of key questions, for instance: how to free up the resources of regional budgets and allocate them for the implementation of objectives set in the Executive Order issued by the President in May? How to enhance the interbudgetary regulation mechanism and stimulate social and economic development of municipalities? How to encourage the regions to develop their economic potential and increase their own revenue: who should be incentivized?