The topic under discussion at the 2014 Forum of Russian Regions will be the new budget formation system that is now in operation. In 2014, nearly all of the country’s regions shaped their budgets according to the principles of the target program. It is planned to switch completely to the program funding system in 2015.
“The new format involves a strict ‘linking’ of expenditure commitments to results, as well as targeted responsibility for each of the programs accepted in a region,” comments Alexei Sirotin, executive director at Orgkomitet Forum and director general of TalkSquare. “However, the current financial realities – slower economic growth, the ruble’s increased volatility, and revisions of investment expectations (major players are leaving the regions, fearing Russian assets will be frozen due to the situation in Crimea) – are bringing adjustments to the budget revenues of federal subjects. The regions are being forced to find new and sometimes rather unusual sources of revenue augmentation.”
Round-table discussions at the forum are as follows: “Regions’ innovative capabilities – resources for development”; “Energy: Models for improving the industry’s competitiveness and new prospects”; “Business objectives in implementing the country’s large-scale sporting projects”; “The marketing potential of regions: How can a region be made successful?”
The Regions of Russia Forum will be held on 8 April, 2014 in Moscow, in the Faculty of Economics building at Moscow State University.
The forum program can be found on the site forum's web site.
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