Financial Analytics: Science and Experience
 

Reserve funds of the President of the Russian Federation and Government of the Russian Federation in the Federal budget: Dynamic performance and changes in their formation and use in 2017

Vol. 11, Iss. 2, MAY 2018

Received: 30 November 2017

Received in revised form: 8 January 2018

Accepted: 15 January 2018

Available online: 31 May 2018

Subject Heading: ECONOMIC AND STATISTICAL RESEARCH

JEL Classification: H60, H61, H68, H84

Pages: 124–139

https://doi.org/10.24891/fa.11.2.124

Lomakina T.P. Volgograd State University, Volgograd, Russian Federation
ppevg@mail.ru

ORCID id: not available

Irizepova M.Sh. Volgograd State University, Volgograd, Russian Federation
irizepovams@volsu.ru

ORCID id: not available

Importance This paper examines the issues related to the Reserve Funds of the President and Government of the Russian Federation in the RF Federal budget.
Objectives The paper aims to give qualitative and quantitative characteristics of these funds for 2008–2016, as well as analyze changes in their formation and use foreseen in the process of execution of the RF Federal budget for 2017.
Methods For the study, we used the method of statistical comparison of time series.
Results The paper explains why the two different reserve funds of the Government of the Russian Federation are formed as part of Federal budget expenditures. It offers the criteria of the perfect and imperfect reserve funds and describes the changes in the approaches to the formation and use of reserve funds of the RF President and Government in 2017.
Conclusions In 2017, the reserve funds of the President of the Russian Federation and the RF government underwent drastic changes, authorized by the Federal budget and rules of formation and use of funds. However, these serious changes did not result in exceeding the envisaged limits, which testifies to the inflated amount of these funds. These reserve funds are never placed to maintain their value or increment their volumes. In the scientific publications, the study of the dynamics of their volumes and specific weight in the Federal budget expenditures is extremely rare, which does not allow using this dynamics in the study of the typology of reserves in the Federal budget.

Keywords: reserve fund, federal budget, president, government, perfect (imperfect) fund

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