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Fiscal maneuver and restructuring the Russian economy

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  • A. Kudrin
  • I. Sokolov

Abstract

The paper discusses fiscal policy parameters for the period through 2024. The suggested way to ensure long-term fiscal stability is stabilization of both the general government revenues and expenditure in percent of GDP at levels differing by the public debt service payments, and then applying a new version of the fiscal rule. Redistribution of fiscal spending from “unproductive” to “productive” areas (primarily investment in human and physical capital) is considered as a way to boost economic growth. Possible use of additional spending on education, public health, and transport system is presented, as well as optimization of expenditures in “nonproductive” areas.

Suggested Citation

  • A. Kudrin & I. Sokolov, 2017. "Fiscal maneuver and restructuring the Russian economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 9.
    • Handle: RePEc:nos:voprec:y:2017:id:22
    DOI: 10.32609/0042-8736-2017-9-5-27
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    Cited by:

    1. Elena Stupnikova & Tatyana Sukhadolets, 2019. "Construction Sector Role in Gross Fixed Capital Formation: Empirical Data from Russia," Economies, MDPI, vol. 7(2), pages 1-16, May.
    2. Vladimir V. Klimanov & Sofia M. Kazakova & Anna A. Mikhaylova, 2020. "Economic and Fiscal Resilience of Russia's Regions," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(4), pages 627-640, August.
    3. I. A. Sokolov & S. G. Belev & O. V. Suchkova, 2021. "How to Ensure Fiscal Sustainability in Russia," Studies on Russian Economic Development, Springer, vol. 32(4), pages 383-390, July.

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    More about this item

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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