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with the largest part of the funds provided not by the federal budget. The construction of the HSM was launched in 2024, the start of

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

gas revenues of the federal budget. These budget revenues are made up of taxes paid by bank customers to the budget. However, the FT cannot

with our policy. Another important factor is budget expenditures. Normally, budget payments peak in December. This year, budget expenditures were high in January as well,

of the year. This happened amid a faster increase in budget expenditures and a growing budget deficit. Consequently, consumer demand stayed high despite a slow-

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,

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