Financial instrument of ensuring sustainable social and economic development of municipalities

¹ Department of Economics and Finance of Enterprises and Industries, International Banking Institute named after Anatoliy Sobchak, Saint Petersburg, Russia
² School of High-Tech Business, Moscow Institute of Physics and Technology, Moscow, Russia

^* Corresponding author: sigovamv@ibispb.ru

Abstract

Research background: This article examines the problems of sustainable social and economic development of municipalities and tackles the issues of strategic planning, assessment of budget support and the economic condition of municipalities.

Purpose of the article: When analyzing the existing social and economic processes in the municipalities of the Russian Federation, attention is drawn to the main methods of planning at the local level, an integral part of which is the preparation of forecasts of social and economic development of the municipality. On the basis of forecasts, a draft of local budget is prepared, determined by the revenue and expenditure side of the budget, laid the necessary sources of financing the budget deficit, formed municipal (address) for the implementation of the powers of local authorities.

Methods: When budget planning and forecasting the social and economic development of a municipality, it is necessary to take into account many factors that contain input data for calculations. This includes demographic changes, labor resources, social security of the population, transport infrastructure, business activity, and much more.

Findings & Value added: In this paper, the priority directions of the development of municipalities in modern conditions are identified and justified on the example of the municipal districts of the Leningrad Region. The methodological tools used can also be recommended to other municipalities of the Russian Federation.