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Budgetary Credits for the Balance of Territorial Budgets
Abstract.The subject of the research is the economic and financial relations arising in the process of financing the current budget deficit through providing a short term fiscal loan. The object of the research is the mechanism of short-term fiscal lending budgets of the RF constituents and municipal entities. The authors summarized Russian experience of lending to public entities by the Treasury of Russia made proposals on improving the mechanism as well as the features of loans from the Federal budget in the conditions of high cost of Bank loans, the benefits of the Federal loans that provide a solution to the problem of the current budget deficit in the sphere of public legal education. The methodological framework is based on general research methods including analysis, synthesis, comparison, and special research methods (mathematical and statistical). The novelty of this research is caused by the fact that the mechanism of granting the budgetary credit should be associated not only with the possibility of financing the regional level but also take into account potential cash planning and forecasting expanding the list of tools that enhance the liquidity of the single account of the budget consolidation, budgetary resources, including at the local level. The study allowed to conclude that the implemented the Federal Treasury instruments cash management helps to ensure additional stability of budgets in the budgetary system within the framework of ongoing measures to improve efficiency of public finance management.
Keywords: loans, budget stability, liquidity, cash deficiency , single budget account, budget balance, budget credit, deficit, budget, Treasury
Article was received:05-02-2016
This article written in Russian. You can find full text of article in Russian here .