TIME DESCRIPTION OF ECONOMIC REFORMS

One of important tasks of overcoming the crisis and sustainable economic growth of the country and its regions is formation and effective use of financial resources in the budgetary sphere. The purpose of the research is to analyze the formation of income and the direction of expenditures in the context of the economic crisis and offer practical recommendations to ensure the balance and stability of the consolidated budget of the Republic of Komi (RK). The object of the research is the monetary and economic relations of the formation and use of funds of the consolidated budget in order to fulfill its obligations and ensure the economic growth of the region. Methods used of the research are analysis and synthesis, induction and deduction, logical and historical method, scientific abstraction and statistical comparison. The hypothesis of the research is the possibility of ensuring the balance and stability of the consolidated budget of the RK in the long term. The statement of basic materials. The analysis of the dynamics and structure of real revenues and expenses of the consolidated budget of the Republic of Komi in 2013-2017. The reasons for the fall and the growth of real incomes and expenses, changes of their structure and especially sharp increase of the debt load of the budget are revealed. Level of imbalance of the budget is shown and recommendations on ensuring balance of the consolidated budget of the region are defined. Originality and practical significance of the research is the fact that the balance and stability of the consolidated budget of the region is considered as the main tool for ensuring sustainable economic growth and improving the welfare of the population of the region. Conclusions of the research are the possibility of restoring the balance and stability of the consolidated budget of the Republic of Komi in the crisiscondotions by increasing the volume of tax revenues, especially property tax, reducing the debt service outlays – reducing the amount of accumulated public and municipal debt.

consolidated budget, revenues, expenses, state and municipal debt, productive and non-productive expenses, budget balance, Republic of Komi

Akindinova, N. & Chernyavskiy, A. & Chepel, A. (2016). Regional budgets in crisis: can we achieve balance? Economic issu, 10, 31-48.

Deryugin, A. N. & Nazarov, V. S. & Mammadov, A. A. (2014). Formation of consolidated budgets of subjects Russian Federation in the medium term: problems and solutions. Research financial Insti-tute. Financial magazine, 3, 5-19.

Golovanova, N. & Dombrowski, E. A. (2016). Federal center and the regions: the changing division of powers in 2005-2015. Scientific research financial Institute. Financial magazine, 2, 41-51.

Andryakov, A. D. (2017). Balance and stability of regional budgets in 2008-2016. Research financial Institute. Fi-nancial magazine, 6, 25-39.

Milchakov, M. V. (2016). Regional budgets: formation of public debt and financing of expenses. Scientific and research financial Institute. Financial magazine, 3, 66-78.

Malis, N. So. (2015). Tax revenues to regional budgets: growth reserves. Scientific and research financial Institute. Financial magazine, 2, 25-32.

Lykova, L., Bukina, I. (2018). Features of fiscal policy in 2019-2021. Federalism, №4 (92), 134-152.

Kudrin, A., Deryugin, A. (2018). Subnational budget rules: foreign and Russian experience. Economic policy, 13, 1, 8-35.

Sabitova, N. M. (2017). Budget and budget policy of the subject of the Russian Federation (on the example of the Republic of Tatarstan): monograph. Moscow: INFRA-M, 199.

Khristenko, V. B. (2002). Inter-Budgetary relations and regional Finance management: experience, problems, prospects. Moscow: Case, 608.

Barasheva, T. I. (2014). Improvement of the system of budget and tax regulation in the regions of the North. ECO, 6 (480), 179-189.

Dyadik, N. (2017). In. Tomilina N. S. Institutional problems of formation of regional budgets of the North. North and market: formation of economic order, 4(55), 137-149.

Naydenova, T. A. (2012). Budget alignment as a tool for the implementation of the budget policy of the Northern territories. Bulletin of The research center of corporate law, management and venture investment Syktyvkar state University, 3.

Shelomentsev, A. G. & Fauser V. V. (2014). Methodology of formation and implementation of tax policy in the Northern regions of Russia. Monograph. Moscow: Ekon-Inform, 385.

Timushev, E. N. (2016). The decrease of autonomy and centralization. Analysis of expenses of the consolidated budget of the Republic of Komi. Economic policy, 11, 4, 131-152.

Gadzhiev, Y. (2003). Safety of the finan-cial sector. Economic security of the Republic of Komi (assessment and regula-tion). In two volumes. Syktyvkar, 478.

Antonevich, E. E. (2004). Budget revenues of the subject of the Federation: structure, formation, control (On the example of the Republic of Sakha (Yakutia)): Diss. Econ. Sciences: 08.00.10: St. Petersburg, 302.

Gavrileva, T. N. (2009). Management of budget expenditures in the subjects of the Russian Federation: on the example of the Republic of Sakha (Yakutia): Diss. doctor Econ. Sciences 08.00.10, Novosi-birsk, 389.

Musgrave, P. A. & Musgrave, P. B. (2009). Public Finance: theory and prac-tice. Moscow: Business Atlas.

Cai, H. & Treisman, D. (2004). State Corroding Federalism // Journal of Public Economics, 2004, Vol. 88, Issues 3-4, pp. 819-843.

Sorens, J. (2014). Fiscal Federalism, Jurisdictional Competition, and the Size of Government. Constitutional Political Economy, 25, 4, 354-375.

Alam, M. (2014). Intergovernmental Fiscal Transfers in Developing Countries: Case Studies from the Commonwealth. Commonwealth Secretariat Local Government Reform Series, 5, 15.

Tesliuc, E. & Pop, L. & Grosh, M. & Yemtsov, R. (2014). Income Support for the Poorest: A Review of Experience in Eastern Europe and Central Asia. Direc-tions in Development. World Bank.

Statistical Yearbook of the Komi Republic. (2012). Syktyvkar, 412.

Statistical Yearbook of the Komi Republic. (2018). Syktyvkar, 363.

Mackulyaka, I. D. (2007). State and municipal finances Ed. 2nd, Rev. and EXT. Moscow, 640.

Mau, V. & Sinel-Murylev, S. G. & Radygina, A. D. (2017). Russian economy in 2016. Trends and prospects. Vol. 38, Institute of Econ. politics them. E. T. Gaidar. Moscow: Gaidar Inst., 520.

State debt of the Republic of Komi / Ministry of Finance of the Republic of Komi. Retrieved from: http://minfin.rkomi.ru/page/279.

Municipal debt of the Republic of Komi / Ministry of Finance of the Republic of Komi. Retrieved from: http://minfin.rkomi.ru/page/281.