Continuous federal budget deficits and a rising public debt have been presented in terms that have produced mounting dissatisfaction with government. One solution offered to deal with this discontent has been a constitutional amendment to balance the federal budget. In a working paper, Charles...

The draft of the federal budget for the coming three years has clear features of the budget for development: it is aimed both at ongoing financing of anti-crisis measures and at the implementation of long-term national projects. Proactive fiscal policy amidst the decrease in tax and non-tax...

The United States has a huge long-term fiscal gap, perhaps with a present value of around $74 trillion. By contrast, the explicit national debt of the U.S. is only around $6 trillion. The U.S. may thus be unable to continue meeting its current spending commitments without eventually enacting...

In H1 2020, tax and non-tax revenues of the consolidated budgets of subjects of the Russian Federation contracted by 8.9% in relation to the corresponding period of 2019, which is close to the corresponding index for the first 5 months of the current year and marks stabilization of the situation...

We analyze dynamic of budget receipts, federal budget expenditures and assets in the National Wealth Fund for January-April 2020. Over the period, the federal budget was executed with a surplus, however one should remember that oil and gas revenues reflect the changes on the market the same...

Deficits and debts are very complex issues for eternal public debate. The norm of budget balance - whether as a value judgment or ideal, as a political symbol or as a budgetary principle - often appears in literature and public debate over federal budgetary and fiscal policies. This paper offers...

This paper examines empirically how transparency of the budget process affects fiscal rules and incentives for fiscal gimmickry or creative accounting in the European Union. Using stock-flow adjustment data for EU countries from 1990-2007, we show that pressure from a deficit limit rule as in...

Generational accounting is a relatively recent methodology that measures the fiscal burden government policies impose on future generations. Comparing the fiscal burden of future generations to the burden levied on current newborns yields the generational imbalance. Micro data from the Household...

This paper addresses the question of how a fiscal rule of a general type can preserve the sustainability of public finances and provide automatic stabilisation, taking as given interest rates and price stability. This issue can be considered complementary to the analysis of monetary policy...

Revenue receipts to the federal budget are above planned volumes both for the oil and gas and the non-oil and gas components. According to results for three quarters of 2021, federal budget revenues amounted to Rb 17.9 trillion, which is equivalent of 95.5% of the projected annual volume and...