The current state of Russia's fiscal policy future

Qurbanova T.

no.4, pp.489-498, 2020 (Conference Book)

  • Nəşrin Növü: Article / Article
  • Nəşr tarixi: 2020
  • Jurnalın baxıldığı indekslər: Other Indexes
  • Səhifə sayı: pp.489-498
  • Adres: Bəli

Qısa məlumat

Prolonged economic stagnation and a lack of new and effective ways of the monetary policy influence on the economy triggered off an interest in the available instruments of the fiscal and organisational policy in the developed countries. In Russia, the monetary policy instruments are far from being exhausted.This paper presents an overview of the current state of Russia’s fiscal policy, evaluates its performance and outlines its future challenges. Historically, Russia’s economic policy has always been strongly influenced by taxes and government expenditures, which can be explained, among other things, by a substantial share of the public sector. The projecteddepletion of mineral resources in the next 20 years will bring about the necessity of tax burden redistribution. With this in mind, it is critical to define the structure of the federal investment expenditures, major spheres of production and individual projects where Russia could generate competitive advantage in doing business.