The budgetary policy of all levels of government in Russia is currently being implemented in conditions of strong turbulence, facing the need to respond to the shock challenges of the new reality. The article uses general scientific research methods to analyze the comparative analysis of the peculiarities of consolidated budget revenues formation in the Far Eastern constituent entities of the Federation. We consider the experience of formation of own revenues of regional budgets in the conditions of external shocks for the region, analyze the state of fiscal capacity of the regions. We show that the stability of the revenue part of regional budgets of the macro-region was ensured by stable receipts of profit (income) and property taxes. The degree of dependence of the budgets of the Far Eastern regions on federal transfers, which exceeded the Russian average in the pre-crisis years, increased strongly during the pandemic and remained high during the period of sanctions restrictions. The dis-synchronization of the dynamics of own budget revenues and inter-budget transfers in the regions of the Far East has intensified. We revealed the change in the level of transparency of intergovernmental fiscal relations in the macro-region during the crisis period. The article presents that the speed of recovery of the Far Eastern regions’ budgets from the financial crisis caused by the coronavirus epidemic and sanctions restrictions depends on the regions’ specialization. Regions specializing in manufacturing industries recover budgetary proportions faster than regions specializing in extractive industries. We conclude that it is necessary to improve the system of selective assistance to budgets in the form of subsidies, which will more adequately compensate for the revenues under-received by regional budgets in conditions of high probability of reduction in the revenue base of regional budgets
Keywords
regional budget policy, consolidated budget revenues, budget responses in the crisis, challenges of the new reality, constituent entities of the Federation, the Far East