Budget Crisis in Russia

Abstract

In the end of 1991 dissociation of the Soviet Union and formation of new independent states out of its former republics took place. As an independent state, Russia exists since 1992. This event defined the period under consideration in our study: 1991-1994. Only starting from 1992 the Russian budget system has begun to perform the whole complex of the functions peculiar to any independent state. Before that Russia was a republic in a federal state where finances were highly centralized. In our opinion, any attempts to reconstruct Russian budget before 1992 taking into account all the proceeds generated in its territory from the Russian and state budgets cannot be correctly done due to lack of the necessary statistics.Soviet Union, Russia, Budget System, Economic Transition