The Role of Project Financing in Program Budgeting (on the Example of Regional Budgets of the Far Eastern Federal District)

In the current political conditions, the key attention in the country is paid to the construction of such state budgets in which the influence of external factors on the economy will be minimized. The most important tasks are to ensure the development of the subjects of the Russian Federation, improve the quality of life in Russia, increase the attractiveness of the state both for its citizens and at the international level, and create favorable conditions for the life and work of the population in our country. One of the central mechanisms for solving these tasks is the budget system. It includes federal, regional and local budgets, which are formed according to the principle of solving key socially significant issues in their execution. The benchmark for effectiveness was taken in the Russian Federation in 2004 during the budget reform, the purpose of which was to switch to the use of the program budget. To achieve maximum results, various budgeting tools are used, the main of which today are programs and projects at all levels of government. The purpose of the study is to identify the features of project financing in the construction of program-based budgets at the regional level. Comparison and grouping methods, as well as tabular and graphical methods of data presentation, were used. As an example, the regional budgets of the subjects of the Russian Federation that are part of the Far Eastern Federal District are used: Kamchatsky, Khabarovsky, Primorsky and Zabaykalsky. At the end of the work, conclusions were drawn about the important role and high importance of the project part of program budgeting in solving the main socially and economically significant tasks of the state. Proposals have also been formulated to improve and optimize the formation of regional budgets using tools such as projects to increase the effectiveness of their implementation.

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