Budget expenditure policy of Tyumen region: current tendencies

About the authors:

Elena S. Korchemkina, Cand. Sci. (Econ.), Associate Professor, Head of the Department of Finance, Money Circulation and Credit, Tyumen State University; dozlen@mail.ru

Darya V. Lazutina, Cand. Sci. (Econ.), Associate Professor, Director of Institute of Finance and Economics, University of Tyumen; 72ldv@mail.ru

Abstract:

The article investigates the features of the implemented budget expenditure policy of Tyumen region amid negative foreign economic and political environment. Tyumen region occupies a leading position among the other subjects of the Russian Federation in Ural Federal District in terms of industrial production, housing construction per 1000 citizens, growth of real incomes of the population, as well as reduction of registered unemployment. Over the past five years, the volume of fixed capital investment in the region has increased by almost 40%. In terms of investments in fixed capital per capita, the region takes the 8th place among the Russian regions, exceeding the average level in Russia more than 2 times. This is achieved by the rational expenditure policy. 
Although the planned reduction of budget expenditures in 2016-2017, the region authorities will continue to implement the programs aimed to improve the quality of health and education systems, to develop competitive environment in commodity markets and services, to use the created industrial policy instruments, in particular, to ensure import substitution and export support (project financing, guarantees, industrial parks, state procurement, public-private partnership).

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