Analysis of fiscal instruments for ensuring financial sufficiency in the Republic of Bashkortostan: current challenges and solutions

   The article is devoted to the analysis of the current fiscal instruments of the Republic of Bashkortostan and the assessment of their effectiveness in the context of the strategic task of ensuring the financial self-sufficiency of the region. The article notes that in the context of sanctions pressure, high volatility of foreign markets, and the need for import substitution, the issue of the financial self-sufficiency of the Republic of Bashkortostan is of particular importance. It has been established that the consolidated budget revenues of the Republic of Bashkortostan remain dependent on the situation in the oil refining sector. The following fiscal instruments have been identified and systematized: regional tax benefits (for income and property taxes), special investment contract mechanisms (SPIC), the activities of development institutions, and program budget expenditures. The current fiscal instruments for ensuring the financial self-sufficiency of the Republic of Bashkortostan create a formal basis for improving the investment climate and provide targeted incentives for individual projects, mainly in capital-intensive industries. The article concludes with an analysis of current challenges that require the transformation of fiscal regulation in order to create a sustainable revenue base and achieve long-term financial stability in the region. The implementation of the key solutions proposed in the study will increase the stability and predictability of the Republic of Bashkortostan's revenue base, which is the foundation of its long-term financial self-sufficiency.

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