On increasing the role of the federal treasury in the management of public finances and application by the russian treasury of new tools to ensure liquidity, balance of budgets, efficiency internal financial control and the budget process

Abstract

The Strategic Map of the Russian Treasury for 2021-2024 and the expanded set of functions for the implementation of strategic projects (tasks) specifed in the Strategic Map are analyzed, taking into account the innovations that will be implemented in the Federal Treasury system during this period in accordance with the strategic directions approved in accordance with the established procedure. The article considers the institutional changes in the Russian public fnance system, related to the transition, starting from 2021, to the treasury payments system and the implementation of the single treasury account technology as a response to the coronacrisis and the constantly tightening external economic sanctions. It is concluded that the management of balances on a single treasury account and single budget accounts will reduce the risks of cash gaps, and therefore the need for attracting budget loans by the subjects of the Russian Federation and municipalities, which, taking into account the effects obtained from the introduction of the mechanism of state internal fnancial control, will create prerequisites for improving the effciency of public fnance management in Russia.