Public Capital Budgeting and Management Process in Russia

Abstract

This chapter provides a case study from Russia regarding public capital budgeting and management at the federal, state, and local levels. This chapter presents an analysis of four main components of Russian capital budgeting system including (1) long-term public capital planning, (2) annual public budgeting and financing, (3) project execution, and (4) public infrastructure evaluation. This research explains the general challenges of capital budgeting process after the several decades of financial and budget reforms. This chapter presents the structure and classification of the capital budget as well as recent trends in capital expenditure levels in Russia. The authors review the capital resource allocations across sectors based on investment needs and national priorities in Russia. The chapter explains public investment management processes and presents recommendations to improve the efficiency of public capital budgeting in Russia.