Keyword: «public finances»

The paper deals with the structure of public finances of federal states (the Russian Federation and the United States) under sanctions. The author analyze the revenue and expenditure of the budget, the public debt of these countries, the largest holder of US government debt bonds. The components of the Russian Federation budget revenues: tax and non-tax revenues, non-reciprocal transfers, as well as the operating and capital budget expenditures are studied. The role of local budgets for the development of Russian economy is considered. The authors show differences and similarities in state and budgetary systems of America and Russia, their budgetary processes, income, expenses, pensions, domestic and external debts, debt-forms, schemes of credit operations.

In conditions of economic instability, public finances play a key role in ensuring the financial sustainability of the state. This article examines the main challenges faced by government finances during crises, including declining tax revenues, increasing social expenditures, and the necessity to maintain investment activity. Strategies aimed at optimizing budget expenditures, improving tax administration, and implementing effective mechanisms for government support are discussed. Particular attention is given to the role of government debt instruments and fiscal policy in mitigating the effects of economic shocks. In conclusion, the importance of flexibility and adaptability of financial institutions for ensuring sustainable development and social stability in conditions of uncertainty is emphasized.