Assessment of Budget and Tax Conditions for Ensuring Sustainable Development of Regions

Volgograd State University, Universitetskiy Prospekt, 100, 400062, Volgograd, Russia

^* Corresponding author: ksendavm@volsu.ru

Abstract

The study of aspects of ensuring security, stability and sustainability of development does not lose its importance. The relevance of the study is enhanced by the circumstances of force majeure in the form of the development of a coronavirus infection that has engulfed the whole world, as well as the aggravated geopolitical situation. In view of this, there is a transformation of conditions that change the trajectory of sustainable development. In the aggregate of factors affecting stable development, fiscal is of particular importance, since the revenues generated in the budget are the material basis for covering the costs of implementing national projects, state programs, projects for the development of educational infrastructure, healthcare, transport, etc. It is revealed that, despite fluctuations in revenues from the oil and gas industries, tax revenues demonstrate progressive dynamics and are of priority importance especially for regional budgets. In order to maintain and improve this trend, it is necessary to expand the tax base (revenue potential) by attracting investors to the regions, increasing wages, reducing unemployment, and improving the demographic situation. In addition, it is necessary to change the institutional limitations of the fiscal powers of the sub-federal level.