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Budget System in a Federal State: Sub-Federal Aspect

The paper analyzes whether a budgetary system could be decentralized in the process of current building and operating of local governments. It presents key factors which define a centralization/decentralization ratio. A special focus is on the principles of distinction between budget expenditures and revenues, and variants of correcting vertical and horizontal misbalances in the national budgeting system. We show the role which a local government plays as a key link in a federal form of governance. We offer the structure of the regional and local budget revenues and our recommendations how a local taxation should be built

Sumskaya T. V. tanyushka333@yahoo.com

Keywords: federalism federalism budget decentralization vertical and horizontal misbalances local governance municipal unit intergovernmental relations