THE DEVELOPMENT PROSPECTS OF THE LOCAL BUDGET (ON THE EXAMPLE OF BUDGET OF NIZHNY NOVGOROD)

The article deals with the development prospects of the local budget (on the example of budget of Nizhny Novgorod). The budget state of Nizhny Novgorod is analysed, its dynamic pattern is studied and the main issues of the local budget are distinguished. The solutions for these issues and budgeting system development for the municipalities are suggested. The comparative analysis of budget cut beginning from 2013, causes of this issue and the mentioned recommendations on taxable capacity development and revenue provision of municipality are of practical interest.