Development of socially significant infrastructure in Russia based on public-private partnership

Kazan Federal University, ul. Kremlyovskaya, 18., 420008, Kazan, the Russian Federation

^* Corresponding author: vaslavskaya@yandex.ru

Abstract

The global financial crisis of 2007-2009 laid the foundation for a steady trend of slowing economic growth on a global scale, which was accompanied by a reduction in budget revenues of national states and a limitation of state budget spending. In these conditions, objectively, the need arose to form a hierarchy of priority budget expenditures that would allow the state to ensure economic growth and finance the growing social needs of society in the context of entrenched stagnation. Numerous studies have proved that the most acceptable model for the state becomes the development of socially significant infrastructure based on the organization of public-private partnerships (PPP). In the context of budgetary restrictions and the consolidation of budgetary funds, PPP forms objectively come first in order to organize co-financing of projects for the development of socially significant infrastructure. However, in Russia and in other countries of the world PPP projects are being implemented slowly, especially in socially significant infrastructure, which could become a powerful driver of economic growth in the future. In this regard, the problem of creating the conditions necessary to ensure the multiplier effect of budget financing of public infrastructure in conditions of a deficit of public finances is becoming particularly relevant.