Regions may face budget crises

March 31. FINMARKET.RU – The development of the pandemic and related quarantine measures and restrictions on economic activity in 2020 increased the risks of a budget crisis in Russian regions, according to a report by the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF). A hard lockdown in April-May and, in a somewhat weakened form, in the following months, caused a decrease in receipts to the treasury of the subjects, Izvestia writes. The decline in incomes of the population and the need to resist the coronacrisis have led to a sharp increase in spending, primarily social and medical, according to the analysis of the center.

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