Melnichuk Marina V. (Doctor of Economics, professor, Financial University under the Government of the Russian Federation; Chief research fellow, Financial Research Institute of the Ministry of Finance
of the Russian Federation)
Karaev Alan K. (Doctor of Engineering, professor, Chief researcher, Financial University under the Government of the Russian Federation)
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The sharp deterioration in the public sector in a number of OECD countries has led to increased economic tensions and increased significance in assessing fiscal risks as an important element of public financial management. During the financial crisis, the increase in the budget deficit and the state debt went far beyond the limits established by the legislation and the restrictions imposed by the budget rules of a number of countries. In particular, the superannuation that the budget received in previous years turned into a budget deficit; indirect guarantees for the financial sector have become direct; unliquidated debts increased significantly, as private risks were transformed by the state. Thus, a significant increase in risks related to public finances has predetermined the importance of managing them.
Keywords:state budget; budget management; budget policy; budgetary risks management.
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Citation link:
Melnichuk M. V., Karaev A. K. The practice of changing the principles of budget management in OECD countries in times of crisis // Современная наука: актуальные проблемы теории и практики. Серия: ЭКОНОМИКА и ПРАВО. -2018. -№04. -С. 97-101 |
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