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Lecture notes, cheat sheets
Budget system of the Russian Federation. Budgetary policy of the Russian Federation (lecture notes)
Directory / Lecture notes, cheat sheets Table of contents (expand) LECTURE No. 16. The budget policy of the Russian Federation 1. About budget policy The ongoing budget policy is generally consistent with the strategic goals of the economic development of the Russian Federation, improving the quality of life and ensuring the safety of its citizens, the tasks defined by the Budget Address of the President of the Russian Federation to the Federal Assembly dated March 9, 2007 "On Budget Policy in 2008-2010." Priority national projects are being implemented. A basis is being created for solving urgent problems of improving the quality of education, improving the health of the population, providing citizens with affordable and comfortable housing, creating decent living conditions in the countryside and developing agro-industrial production. Increased: remuneration of employees of public sector organizations, monetary allowances for military personnel and law enforcement officers, pensions and a number of benefits in connection with motherhood and raising children. The reform of the system of in-kind benefits has increased the effectiveness of social support for the population. Budgetary funds for these purposes are provided in the required volumes. In the federal budget for 2008, the volume of state investment expenditures was increased, and an Investment Fund was created. The transparency and objectivity of the system of financial support for the constituent entities of the Russian Federation have increased, but the mechanisms used in the distribution of subsidies are still insufficiently focused on stimulating the growth of their own tax potential. The circle of own powers of state authorities of the constituent entities of the Russian Federation and the powers delegated to them with the provision of subventions from the federal budget has been expanded. State authorities of the constituent entities of the Russian Federation received the right, in cases established by law, to participate in the exercise of the powers of the Russian Federation with the implementation of expenses at the expense of the budgets of the constituent entities of the Russian Federation. Similar decisions have been made with respect to local self-government bodies. A feature of the budget process in 2008 was the formation of their own budgets for several thousand newly emerged municipalities. At the same time, decisions made at the federal level allowed the constituent entities of the Russian Federation to independently determine the timing and procedure for the transition to a model of organizing local self-government, taking into account the real situation on the ground. The course to reduce the overall tax burden on the economy continued. The ratio of the total volume of obligatory payments to the volume of the gross domestic product is gradually decreasing. Decisions were made aimed at stimulating investment and innovation activities. In particular, a new form of tax declaration on value added tax was approved. A number of measures have been implemented to improve the taxation of corporate profits. Tax incentives have been introduced for companies operating in special economic zones. The tax on property passing by way of inheritance has been abolished. The base rate of the unified social tax was reduced, which ensured a reduction in the tax burden, primarily for the manufacturing industries. The second goal of the reform of the taxation of the payroll fund has not been achieved - the mass withdrawal of citizens' incomes "out of the shadows". The limits on the provision of deferrals and installment plans for the payment of tax payments have been cancelled. But the distribution of competence for their provision between the authorities has not been established. Legislatively established a mechanism for the execution of court decisions on claims against state authorities and local governments. The volume of the state external debt continued to be reduced. The role of the Russian Federation in the efforts of the international community to solve the problem of the debt burden of the poorest countries has increased. The reform of the budget process continued. A regulatory and methodological base has been formed for drawing up a long-term financial plan and a draft federal budget, maintaining registers of expenditure obligations, developing and implementing departmental targeted programs. Departmental targeted programs have not yet become an effective tool for optimizing existing spending commitments and linking them to specific measurable results. The preparation of complex changes in the Budget Code of the Russian Federation, aimed at bringing it into line with modern requirements and principles of effective public finance management, has been unreasonably delayed, which objectively hinders the introduction of a results-oriented medium-term budgeting model. 2. The main objectives of budget policy When forming and implementing the budget policy, the Government of the Russian Federation should take actions in the following areas. 1. It is necessary to turn the federal budget into an effective instrument of macroeconomic regulation. In the future, inflation should be brought down to an acceptable level of 3-4% per year. This should be facilitated by the observance of the principle of adequacy of the real growth rates of budget expenditures, the growth rates of the economy, taking into account the planned reduction of the tax burden in the future, the implementation of a balanced policy in the field of using short-term excess profits from the export of hydrocarbons, the regulation of tariffs for the products of natural monopoly entities, as well as the implementation of budget programs, aimed at eliminating infrastructural constraints in the economy, provoking an additional rise in prices. 2. It is necessary to ensure the long-term balance of the budget. The task of ensuring the sustainability of budget expenditures, regardless of the situation in commodity prices, comes to the fore, provided that the need to sterilize excess money supply in order to stabilize macroeconomic indicators will decrease. For this it is necessary to transform the Stabilization Fund of the Russian Federation into the Reserve Fund and the Fund for Future Generations. The reserve fund should provide for budget expenditures in the event of a significant decline in oil prices in the medium term. The volume of the Reserve Fund, as well as the volume of oil and gas revenues used to finance federal budget expenditures, must be legally fixed as a percentage of gross domestic product. At the same time, it is necessary to provide for a three-year period for the transition to new principles for managing oil and gas revenues. The Future Generations Fund should accumulate oil and gas revenues generated as a result of the excess of revenues from the oil and gas sector over deductions to the Reserve Fund, and funds used to finance federal budget expenditures. The Government of the Russian Federation needs to develop mechanisms and corresponding changes in the budget legislation that will be able to ensure an increase in income from the placement of accumulated funds. 3. It is necessary to increase the budget planning horizon. The formation and approval of the federal budget for a three-year period can be considered as the basis for the transition to long-term financial planning. Practical experience is required in the development and use of long-term (for a period of up to 10-15 years or more) budget forecasts, which include quantitative criteria for the sustainability of the budget system, the acceptability of tax and debt burdens, and risk assessments for the budget system. It is necessary to make an assessment of the volume of public obligations of the Russian Federation, primarily pensions, and the main budget programs for the long term, taking into account the stable factors and trends influencing them. As early as 2007, subjects of the Russian Federation and municipalities had the opportunity to form and approve their own budgets for a three-year period. 4. It is necessary to ensure the fulfillment of spending obligations. Decisions on the cancellation of existing obligations, their termination or restructuring should be developed before the completion of the draft budget. A balanced approach is needed to increase and accept new spending commitments, taking into account available resources. It is necessary to form a clear mechanism for assessing financial opportunities for making new commitments, determining their volume and composition, assessing expected effectiveness and analyzing alternative solutions. New budget programs and legislative initiatives can be adopted only if there is full confidence in the possibility of their financial support. 5. It is necessary to analyze the effectiveness of all budget expenditures. It is necessary to introduce into the practice of the Government of the Russian Federation modern methods for assessing the effectiveness of budget expenditures from the point of view of the final goals of socio-economic policy, while the obligatory comparison of the results achieved with these goals is required. Since the task of budget policy is to consistently improve the quality of life of citizens, it is necessary not only to report on the provision of medical and educational services, but to achieve results in reducing morbidity and mortality, increasing the competitiveness of our schoolchildren and students. That is why, already at the stage of developing individual measures and integrated programs, the Government of the Russian Federation should determine the ultimate goals of the actions being implemented and the procedures for assessing the consequences of these actions. It is necessary to expand the composition and improve the quality of information provided to legislative bodies, the public, and citizens about the achieved and planned goals of budget policy and the results of the use of budget allocations, including the effectiveness of the implementation of budget programs. It is necessary to strengthen the statistical monitoring of the results of ongoing programs, the introduction of regular specialized statistical surveys designed to provide an assessment of the effectiveness of budget expenditures. 6. It is necessary to switch to modern principles for the implementation of state capital investments. The main document that regulates the relationship between the state customer and the contractor can be a contract, which is concluded for the entire period of the investment project. At the same time, the obligations of the contractor for the commissioning of the facility and the obligations of the state for financing should be clearly recorded in this contract. Expenditures for the entire period of implementation of the investment project, in respect of which a state contract has been concluded, are subject to inclusion in the expenditure obligations of the state and cannot be revised. Estimated calculations that are carried out when designing an object of state capital investments should be based on a real assessment of the cost of the necessary work, equipment and materials and be calculated at the prices of the corresponding years. At the same time, the estimate must be considered solely as an integral part of the tender documentation for contract bidding, and in the future, the contractor must have the freedom to choose the most effective and economical ways to implement the project. 7. It is necessary to apply mechanisms that encourage budgetary institutions to improve the quality of their services and increase the efficiency of budget expenditures, as well as mechanisms that stimulate the expansion of the powers of the main managers of budgetary funds to determine the forms of financial support for the provision of public services. The main managers of budgetary funds should have the authority to independently determine the forms of financial support and methods of providing public services, including the provision of public services directly by a budgetary institution on the basis of a state assignment or the purchase of a service on the market based on a state order. The same principles should apply to the provision of municipal services. The Government of the Russian Federation needs to take measures to implement a system of single-channel financing in the health sector and a system of per capita financing in the field of education, taking into account the results of experiments conducted in 2007 to introduce appropriate financing mechanisms in a number of constituent entities of the Russian Federation. The right to independently determine the directions of spending funds to achieve the target indicators must be granted to budgetary institutions. It is necessary to begin work on the transformation of budgetary institutions into autonomous institutions in those areas of social service delivery, where this can create significant incentives for improving performance. 8. It is necessary to improve the quality of financial management in the public sector. Strengthening the responsibility of executive authorities and budgetary institutions for the effectiveness of budget expenditures and improving the quality of state and municipal services should be accompanied by the expansion of their powers, the creation of incentives to increase transparency and efficiency in the use of budgetary funds, and the cessation of the practice of petty regulation of their activities. This control is necessary for more effective, focused not only on the detection, but also on the prevention of financial violations, it should form the basis for making specific management decisions. Only on this basis can an effective system of auditing the effectiveness of budget expenditures be created in the public sector. 9. It is necessary to determine strategies for the further implementation of the pension reform, solving the problem of imbalance in the Pension Fund of the Russian Federation. In the pension sector, long-term calculations of the balance of the pension system should be made, targets should be set regarding the level of the replacement rate and the acceptable tax burden on the wage fund, mechanisms should be formed to strengthen the funded component of the pension system, including stimulation of voluntary pension savings of citizens. 10. It is necessary to pay special attention to the formation and implementation of the federal target program, which is aimed at promoting the rapid socio-economic development of the Far East and Transbaikalia. It is necessary to use all the instruments of state financial policy available for this program, including in conjunction with the attraction of private co-financing of relevant program activities. It is necessary to think over a system of tax and customs-tariff policies that stimulate investment activity in the respective regions. 3. Main directions of tax policy In the next three years, tax policy should be focused on creating the most comfortable conditions for expanding economic activity and transitioning the economy to an innovative development path, as well as further reducing the scale of tax evasion. It is necessary to consider the possibility of further reducing the tax burden, as well as eliminating excessively burdensome procedures for offsetting (refunding) the relevant value added tax (VAT) payments. In the future, there is no need to change the procedure for taxing personal income, while maintaining a single tax rate, since its application has already proven its effectiveness. At the same time, it is necessary to continue increasing the amount of deductions in the calculation of personal income tax (PIT). It is necessary to adopt a chapter of the Tax Code of the Russian Federation, which will regulate the collection of tax on residential real estate of citizens, calculated from the market price of the property. At the same time, the system of tax deductions must be revised in such a way that the tax burden on low-income citizens remains at the same level. It is necessary to regulate the issues of taxation of non-profit organizations in the Tax Code of the Russian Federation in order to more actively involve them in the implementation of social activities, as well as to adopt a federal law that will be aimed at tax incentives for scientific and innovative activities. In the Russian Federation, it is necessary to make a decision on the implementation of the institution of consolidated tax reporting in order to more equitably distribute funds between the constituent entities of the Russian Federation. It is necessary to make amendments to the Tax Code of the Russian Federation, which will be aimed at improving tax control over the use of transfer prices in order to minimize taxes. At the same time, the procedures for this control should be as simple and clear as possible for both taxpayers and tax authorities. The new rules should not lead to additional difficulties in industries that produce high-value-added products, where vertically integrated structures are currently being formed. It is necessary to continue work on reforming the excise system in order to stimulate the consumption of better quality goods. In particular, it is necessary to differentiate the excise duty rates for gasoline based on its quality, meaning the establishment of a lower rate for high-quality gasoline and a higher rate for low-quality gasoline. Changes in the rates of customs duties should focus on stimulating the technological modernization of the Russian economy, expanding the production of highly processed products. 4. Main priorities of budget expenditures Government of the Russian Federation in the formation of the draft federal budget for 2008-2010. one should proceed from the need for financial support for decisions made on the implementation of major programs and projects of national importance. It is necessary to ensure the allocation of funds for the implementation of priority national projects. When implementing the project "Affordable and Comfortable Housing for the Citizens of Russia", special attention should be paid to the expansion of state support for the creation of communal infrastructure on land plots intended for housing construction. Appropriate funding should be provided for measures to develop the agro-industrial complex, which are concentrated in the State Program for the Development of Agriculture and the Regulation of Agricultural Products, Raw Materials and Food Markets for 2008-2012. In 2010, the first actual payments will have to be made from maternity (family) capital. It is necessary to form a system for managing maternity capital funds and provide for the necessary budgetary expenditures. It is necessary to increase spending on education and health care. It is necessary to determine the time frame for a phased increase in the minimum wage to a level not lower than the subsistence level of the able-bodied population. When raising the wages of public sector employees, it is necessary to take into account the financial capabilities of the constituent entities of the Russian Federation and local self-government bodies of municipalities. The Government of the Russian Federation needs to make decisions that will allow the main managers of budgetary funds, within the limits of funds provided for wages, to introduce wage systems for subordinate budgetary institutions that differ from the Unified tariff scale for wages of employees of public sector organizations. The use of such systems should ensure that the quality of the employee's work and the level of his payment correspond, as well as the achievement of a decent level of wages in the public sector. It is necessary to solve the problem of bringing the size of social pensions to a level not lower than the subsistence minimum for a pensioner. There is a need for more active actions to develop transport and energy infrastructure. It is necessary to significantly increase the capacity and improve the safety of roads. At the same time, financial support for the relevant activities should be carried out not only by increasing the amount of funding from the budgets, but also by attracting funds from extrabudgetary sources. The increase in expenditures for the needs of the road sector must be carried out in a balanced way, taking into account the need to ensure both the construction of new roads and the maintenance of existing roads in a standard condition. It is advisable to carry out a significant part of state financing for the construction and reconstruction of roads from the Investment Fund of the Russian Federation, taking into account the possibility of attracting private co-financing. It is necessary to expand the scale of construction and modernization of runways at Russian airports, which is especially important for the development of the Far East. It is advisable to pay special attention to the use of concession mechanisms, as well as speed up the process of transferring most of the airport infrastructure to the ownership of the constituent entities of the Russian Federation. Another urgent task is the reliable energy supply of the economy and the population, the elimination of obstacles to the development of the economic and social spheres associated with a shortage of electricity. The federal budget should provide the necessary funds for the development of the electric grid economy, nuclear and hydropower. It is necessary to continue resolving issues on the application of program-targeted methods of nuclear and radiation safety, the development of an electronic component base, the infrastructure of cosmodromes, the nanoindustry, and the provision of housing for military personnel. Federal budget funds allocated to state academies of sciences for scientific research should be concentrated mainly in the program of fundamental scientific research and provided primarily in the form of subsidies and grants. It is necessary to begin the widespread use of modern mechanisms of state support for the development of shipbuilding and aircraft manufacturing. State support for the development of industrial infrastructure, stimulation of innovation should be based, among other things, on the maximum use of state development institutions, primarily the Bank for Development and Foreign Economic Affairs, the Investment Fund of the Russian Federation, and the Russian Venture Company. 5. Improving interbudgetary relations We can consider justified the measures proposed by the Government of the Russian Federation, which relate to increasing incentives for the subjects of the Russian Federation and municipalities to reduce the level of subsidization. The division of powers between the levels of public authority is basically complete. Now it is necessary to ensure strict observance of the principle of delimitation of responsibility for decisions made and the unconditional fulfillment of expenditure obligations assigned to the relevant budgets. When preparing and implementing decisions on the delegation of powers in the field of regulating economic and social development, the Government of the Russian Federation should proceed from the need to optimize the structure and number of territorial bodies of federal services and agencies, while retaining control and supervisory functions at the federal level. It is necessary to continue the transfer of the implementation of investment projects for the construction of facilities that are owned by the subjects of the Russian Federation and in municipal ownership, for financing from regional and local budgets. At the same time, for facilities already under construction that are state-owned by the constituent entities of the Russian Federation and municipal property included in the list of construction projects and facilities for federal state needs, it is necessary to provide funds in the federal budget for co-financing the costs of the constituent entities of the Russian Federation in an amount corresponding to the federal share in the total appropriations necessary to complete the construction of these facilities. In 2008, it is necessary to conclude agreements with highly subsidized constituent entities of the Russian Federation on measures to improve the efficiency of the use of budgetary funds and increase tax and non-tax revenues, and the control authorities should conduct audits of reports on the execution of the relevant budgets for 2007. It is necessary to establish effective control over the observance by subsidized and highly subsidized subjects of the Russian Federation and municipalities of the additional requirements and restrictions introduced for them. Public authorities at all levels must proceed from the fact that the most effective incentive for developing their own tax potential is the stability of securing tax revenues for the relevant budgets, as well as the absence of a direct relationship between actual or projected income and expenses, on the one hand, and the volume of subsidies for equalization budget security - on the other. The practice of supporting budgetary reforms provided through the Fund for Reforming Regional and Municipal Finances should be continued. Newly created municipalities should be given effective support in mastering the basic methods and procedures for managing municipal finances. Author: Natalia Burkhanova << Back: State and municipal debt
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