Oil and gas industry and risks in the Russian Federation budget system
UDK: 336.6:622.276
DOI: 10.24887/0028-2448-2018-4-12-15
Key words: oil and gas complex, oil and gas revenues, budget risks
Authors: N.M. Sabitova, Ch.M. Shavaleyeva Kazan (Volga Region) Federal University, RF, Kazan
Russia
is one of the world leading countries actively producing and supplying
hydrocarbon crude. Accordingly, the oil and gas industry plays an important
role in the formation of budgets of the Russian Federation budget system,
providing a flow of a large part of their income. In the conditions of
instability of the market commodity of the raw markets and uncertainty of the
prices of hydrocarbon crude such dependence of budgets on an oil and gas
complex increases risks of non-execution expense commitments of public-legal
entities in case of reduction prices mined minerals. As a rule, budgetary risks
associated with oil and gas complex in Russia consider only applied to federal
budget. This is due to the fact that oil and gas revenues to which, according
to the current budgetary legislation, receipts from a severance tax in the form
of hydrocarbon crude belong the export customs duties on oil, gas and the goods
developed from oil are enlisted only in the federal budget. However an article
analysis suggests that the impact of budgetary risks associated with the
development of oil and gas complex not only is subject to federal, but also
regional and municipal budgets. At the same time the level of fiscal risk
varies for different subjects of the Russian Federation and municipal entities
and depends on oil and gas sector enterprises existence in these regions. It is
shown necessity of establishing reserve funds of the Russian Federation
subjects and creation in Russia of special body whose functions would include
the forecasting of potential threats to the Russian economy.вЃ
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