Template-Type: ReDIF-Article 1.0
Author-Name:Deryugin Alexander 
Author-Name-First: Alexander 
Author-Name-Last:Deryugin 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: REGIONAL BUDGETS: DEBT REDUCTIONS AMID AUSTERITY
Abstract: In May–June 2016, there was an insignificant growth of regional revenues together with restraint of spending growth, which resulted in contraction of regions’ public debt. Moreover, tight commercial loans were partially replaced by the budget loans. In the meantime, overall low  income growth rates commenced since the turn of the year and restrictions on borrowings will not allow regions to achieve positive growth rates of budget spending in real terms and, thus, depart from the austerity policy.
Classification-JEL: I31 
Keywords:  INFLATION AND MONETARY POLICY,  Russian Economy
Year: 2016
Issue:8
Month: August
Pages: 6-9
File-URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-8-707.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:recdev:recdev-2016-8-707