Public discussion of federal fiscal policy typically focuses on several familiar metrics of performance, including the total deficit, the level of public debt and percentage of federal spending committed to mandatory spending and net interest payments. While useful, these measures are based on...

In May 2013, Resolution of the Government of the Russian Federation introducing from the beginning of 2014 the procedure for carrying out of open technological and pricing audit of large investment projects with state participation was published

This paper examines the question of whether the U.S. State Department’s budget should be cut, and if so, by how much. If its budget increased by the same percentage as the increase in GDP since 2000, it would be 43.3 percent smaller than it was in 2016

For decades, a central element of the Republican Party brand has been to call for fiscal responsibility through balanced budgets. We ask if the Republican Party has ever lived up to these ideological principles. Medicare Part D and paying for the recent Afghanistan and Iraq wars are striking...

We investigate the use of financial information in the determination of budget cuts under unprecedented fiscal pressure caused by COVID-19. Especially, we concentrate on financial information such as budget execution rates, the ratio of a project’s cumulative annual executed budget (i.e.,...

In January 2016, in the budgetary process the following events took place: Measures Aimed at Implementation of the Federal Law on the 2016 Federal Budget and the Rules of Placement of Federal Budget Funds in Deposits with the Vnesheconombank were approved by the Resolution of the Government of...

As demonstrated by reported monthly performance data, the RF federal budget for the first 10 months of 2016 was executed with a deficit of -2.3% of GDP (vs. -1.0% of GDP over the same period of 2015). By the year-end of 20162, the plunge of total federal budget revenue is not expected to exceed...

During Q1 2016, the volume of the federal budget revenues shrank by 5.7 p.p. of GDP, in terms of expenditures the reduction hit 6.1 p.p. of GDP. Contraction of the revenue and expenditure part of the federal budget amounted to around 20% in real terms. Fall of revenues in Q1 2016 was due to...

In May 2015, the procedure for determination of the price in purchasing of goods, jobs and services related to the state defense order was approved by the resolution of the Government of the Russian Federation; an approximate form of general requirements to determination of target costs related...