Interbudgetary Relations in the Sakha Republic (Yakutia)

Abstract

The regional budget is a tool through which regional government institutions obtain resources to support their activities and fulfill the region’s development tasks. These resources include revenues from the use of regional property, tax receipts from the population and businesses, funding from the federal budget, and others. Through the budget, regional authorities have the opportunity to plan and implement investment projects, support small and medium-sized businesses, finance education, healthcare, culture, and other areas of activity. Consolidation of resources through the regional budget allows for the reduction of inequality between different territories, the improvement of the standard of living for the population, and the promotion of sustainable regional development. An important aspect of the regional budget is also the ability to plan and adapt to changing economic conditions, prevent financial crises, and ensure the financial stability of the region. This article explores the formation of the budget and resource allocation in the Sakha Republic (Yakutia). The importance of studying this topic is due to the fact that the system of interbudgetary relations plays a significant role in ensuring the socio-economic development of the region. The Sakha Republic (Yakutia) is a major resource-rich region, and interbudgetary relations have particular relevance as a significant portion of the region’s revenue is associated with the extraction and export of natural resources. The aim of the study is to analyze the distribution of income and expenditure in the region. The methodological basis of the research consisted of analyzing official statistical information on the budget’s income and expenditure in the Sakha Republic (Yakutia), as well as using methods of economic analysis and planning. The study examines and analyzes the revenue and expenditure of the consolidated budget of the Sakha Republic (Yakutia), analyzes the relationship between gratuitous receipts and own funds in the republic, and also examines interbudgetary transfers to the budget of the Sakha Republic (Yakutia).