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Anti-crisis Budget Policy of Russia in 2016–2018

In: Russia and the European Union

Author

Listed:
  • Sergey P. Sazonov

    (Volgograd State Technical University)

  • Gilyan V. Fedotova

    (Volgograd State Technical University)

  • Lyubov V. Perekrestova

    (Volgograd State Technical University)

  • Yuri A. Kozenko

    (Volgograd State Technical University)

Abstract

Subject/topic. Topicality of the research is determined by necessity for study of problems and perspectives of increase of effectiveness of budget policy management. The subject is financial and economic relations which provide the general process of budget resources management. Goal/tasks. Theoretical and practical substantiation of effective management of budget in modern unpredictable conditions of financial planning. According to the set tasks, the authors formulate and solve the following tasks: short analysis of effectiveness of budget policy in 2016, detailed analysis of directions of budget policy in 2016, determination of risk and recommendations for their elimination, and forecast for development of economy in perspective. Methodology. The authors use statistical analysis, financial analysis, horizontal and vertical analysis for analyzing effectiveness of budget policy. Results. Foreign economic conditions in 2015 were characterized by significant reduction of oil prices and reduction of consumer capabilities of Russian buyers of imported products. Living standards of the population is characterized by increase of general unemployment level under the conditions of reduction of business activity in economy. Based on the principles of budget policy and the law, it is offered to reduce total volume of expenditures of the federal budget, as compares to the set parameters, by the value of conventionally set expenditures in 2016, of those exceeding 2.5% of the total volume of expenditures in 2017, and calculate the volume of expenditures for 2018 according to the “budget rules”. Conclusions/significance. Value of this work consists in the fact that budget policy is a center of state’s economic policy and reflects all of its financial relations with public institutions and citizens.

Suggested Citation

  • Sergey P. Sazonov & Gilyan V. Fedotova & Lyubov V. Perekrestova & Yuri A. Kozenko, 2017. "Anti-crisis Budget Policy of Russia in 2016–2018," Contributions to Economics, in: Elena G. Popkova (ed.), Russia and the European Union, pages 81-88, Springer.
    • Handle: RePEc:spr:conchp:978-3-319-55257-6_12
    DOI: 10.1007/978-3-319-55257-6_12
    as

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