Some aspects of the impact of the State budget deficit on the Socio-economic development of Russia

Abstract

Introduction. In the context of the development of anti-Russian sanctions, the transformation of the domestic economy is taking place, in which more and more threats to both the economic and national security of the state are concentrated. The negative dynamics is associated with the development of the state budget deficit and its impact on the socio-economic policy of the country.Goal. The purpose of the study is a detailed analysis of the main causes of the state budget deficit, including anti-Russian sanctions, the complex geopolitical situation in the world, as well as the degree of their influence on the socio-economic policy pursued by the state.Materials and methods. The methodological basis of the research is: analysis, comparison, generalization. Statistical data and publications of scientists became the basis for the materials of scientific work.Results and discussion. The estimates and views of domestic scientists and economists on this problem are presented. The role of oil and gas revenues in the process of forming the state budget of the Russian Federation is analyzed. The consequences of increasing costs are determined. The negative impact of the development of inflationary processes on the level and quality of life of the population is presented. Russia's place in the world ranking of countries by the level of tax burden has been determined. Possible threats to the business environment associated with fluctuations in the key rate have been identified. The essence and economic validity of the sources of covering the state budget deficit are revealed. Proposals are formulated to improve and stabilize the socio-economic state of the country, minimize possible risks of economic recession.Conclusion. According to the results of the study, it can be concluded that despite the increasing tension in the economy associated with the development of the state budget deficit, Russia has great potential and opportunities to overcome the crisis through structural and institutional transformations.

Keywords

• budget deficit
• level and quality of life of the population
• inflationary processes
• economic recession