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Budget system of the Russian Federation. The procedure for drawing up a draft federal budget (the most important)

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22. The procedure for drafting the federal budget

Drafting of the federal budget is carried out by the Government of the Russian Federation and begins no later than 10 months before the start of the next financial year.

The authorized executive body organizes the development of a forecast of the socio-economic development of the Russian Federation for the next financial year and clarification of the parameters of the medium-term forecast of the socio-economic development of the Russian Federation, which is the basis of the long-term financial plan.

The Ministry of Finance of the Russian Federation organizes the development of:

1) projections of the main indicators of the federal budget for the medium term;

2) the draft Federal Law on the federal budget for the next financial year.

The first stage in the formation of the federal budget is the development by the federal executive authorities and the selection by the Government of the Russian Federation of a plan-forecast of the functioning of the Russian economy for the next financial year, containing the main macroeconomic indicators characterizing the state of the economy.

The Ministry of Finance develops the characteristics of the federal budget for the financial year and distributes federal budget expenditures.

The Ministry of Finance, within two weeks from the date of adoption by the Government of the Russian Federation of the characteristics of the federal budget for the financial year and the distribution of federal budget expenditures in accordance with the functional classification of expenditures of budgets of the Russian Federation:

1) send budget projections to federal executive bodies for distribution to specific recipients of federal budget funds;

2) notify the executive authorities of the constituent entities of the Russian Federation on the methodology for the formation of interbudgetary relations between the Russian Federation and the constituent entities of the Russian Federation for the next financial year and for the medium term, determined by the legislation of the Russian Federation. The second stage in the formation of the federal budget is the distribution by the federal executive authorities of the maximum volumes of budget financing for the next financial year in accordance with the functional and economic classifications of budget expenditures of the Russian Federation and by recipients of budget funds, as well as the development by these authorities of proposals for structural and organizational reforms in industries economy and social sphere, on the abolition of regulatory legal acts, the execution of which entails the expenditure of budgetary funds that are not provided with real sources of funding in the next financial year, on the suspension of the said regulatory legal acts or on their phased introduction.

Author: Natalia Burkhanova

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