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The only exception is the 2014–2015 crisis, which is marked by budget consolidation.
39 The exception is the 2020–2021 crisis, when monetary policy
continued
support for the economy through fiscal policy in 2023. The federal budget deficit was primarily
financed through resources from the National Wealth Fund and
Automated System of Interbank Funds
Budgeting, Control over Budget Execution Transfers (ASIFT). Implementation of New
and Automation of the Budget Process Digital Technologies in Payment
and budget surpluses, these regions incur relatively higher GRP
losses compared to those with higher levels of economic development.
Keywords: regional finance, budget, regional budget,
155
03.02.2025
level of individual regions and across all levels of government budget, including federal and regional budgets, as well as extra?budgetary funds. The authors have
outstanding amounts due to the federal budget, budgets of relevant constituent
territories of the Russian Federation, relevant local budgets, and government extra-
budgetary funds; compliance
0 trillion. The deviation is due to a smaller-
than-expected inflow of budget funds in 2024. A part of the expenditures funded in late December
would also be a return to normal fiscal policy
and fiscal rule-based budgeting of expenses.
Summary of the Key Rate Discussion
4
MONETARY CONDITIONS
MAIN
159
20.01.2025
would also be a return to normal fiscal policy and fiscal rule-based budgeting of expenses.
Monetary conditions
Main facts
Money market rates and yields on
operations.
Institution’. Regional and local budget funds are treasury accounts
balances of the regional budgets and local budgets.
Other budget funds are total funds of