Effective mechanisms for attracting extrabudgetary investments in the economy of a municipality

In the context of reduced budgetary financial resources, it becomes obvious that it is impossible to carry out all measures for the construction of communal, transport and social infrastructure facilities provided for in the master plan without attracting extra-budgetary sources. In this regard, there is an increasing interest in attracting investments using public-private partnership mechanisms. The main advantages of concession agreements and public-private partnership agreements over state and municipal contracts are the possibility of attracting extra-budgetary funds, shortened project implementation time, minimizing risks for both parties, as well as the possibility of obtaining federal financial support measures. The concession mechanism is primarily a tool for economic growth and increasing the level of competition, and, consequently, the level of services provided to the population. The main benefit that municipalities receive is the subsequent operation of the created facility by an investor who is primarily interested in high-quality construction, since this subsequently helps to reduce operating costs. Concession agreements, as one of the mechanisms of public-private partnership, have become widespread in the Russian Federation, and their role in creating the necessary infrastructure facilities will only increase in the coming years. With high-quality planning, concession agreements are an effective tool for the construction of facilities important for socio-economic development without excessive burden on the budget.