Analyzing the Draft Federal Budget of Russia for 2021–2023: Sources of Financing and Mechanism of Overcoming Finance Challenges

Abstract

The subject of the research is global processes dealing with pandemic. Measures aimed at curbing the corona-virus infection spread caused an unprecedented decline in economic activity in the world and in Russia, resulted in a serious drop in raw material and finance markets, decrease in revenues of budgets and incomes of people. The article analyzes key figures of the draft federal budget for 2021 and the planned period of 2022–2023. The focus is made on social obligations of the federal budget for the planned period, which are not subjected to sequestrating and dynamics of sequestrating federal budget expenses on national projects financing in 2021–2022 is given. The article shows key lines in implementing the program of mobilizing the profit part of the federal budget. The author proposed one way of overcoming finance challenges on the regional level, i.e. the card system of food distribution. In this context the article provides the overseas and home experience in theory and practice of the issue, gives ideas of Russian economists – supporters and opponents of social food cards. Designing budget on the basis of mentioned-above approaches could support economy in the period of restoration and promote reaching the national goals of development, i. e. the growth in real incomes of the population, cutting the level of poverty, providing conditions for healthy, comfortable life of Russian citizens.

Keywords

• draft federal budget
• sequestrating expenses on national projects
• program of mobilizing the profit part of the federal budget
• expenses of the federal budget
• social obligations
• tax on individuals’ incomes
• social food cards