Analysis of Kamchatka Krai’s budget for 2021

Abstract

Kamchatka Krai is a peripheral and isolated from the main territory of the Far East region with a unique natural resource potential. It is one of the least developed and economically developed Russian Federation regions located in the Far East. The main challenges and problems facing Kamchatka are the growth of global and interregional competition, the dependence of the region on external supply of goods and resources that provide basic life processes, low infrastructural security of fishing and transport and communication activities, weak involvement of Kamchatka in the world markets of goods and services. In this regard, an annual overview analysis of the budget of the region is necessary in order to draw correct conclusions on the trends of its development. The study subject was the economy of the Kamchatka Krai. The study object was the 2021 Kamchatka Krai’s budget. The study’s purpose was to analyse 2021 Kamchatka Krai’s budget. Logical, analytical, comparative, historical, and statistical methods were used to achieve the study purpose and solve the tasks. In the course of the study, materials of All-Russian and regional normative legal acts, the works of researchers in socio-economic transformations of the Russian Federation regions were used. The author concludes that the actual revenue figure in the regional budget exceeded the projected one in 2021. The actual amount of expenses became less than expected. According to the results of the budget execution, a budget deficit was planned, but there is a surplus in reality. The main share of budget revenues in 2021 was made up of gratuitous receipts. Their amount exceeds the indicator of the previous year. The second place in the formation of the budget is occupied by tax revenues. The main expenditures in 2021 and 2020 were directed to the national economy, education, social policy, housing and communal services and healthcare. In 2021, expenses became less than revenues.