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Fiscal maneuver and restructuring of the Russian economy
[journal article]
Abstract The paper discusses fiscal policy parameters through 2024. The suggested way to ensure long-term fiscal stability is stabilizing both the general government revenues and expenditures as percentages of GDP at levels differing by the public debt service payments and then applying a new version of the ... view more
The paper discusses fiscal policy parameters through 2024. The suggested way to ensure long-term fiscal stability is stabilizing both the general government revenues and expenditures as percentages of GDP at levels differing by the public debt service payments and then applying a new version of the fiscal rule. The redistribution of fiscal spending from unproductive to productive areas (primarily investment in human and physical capital) is considered to boost economic growth. The possible use of additional spending on education, public health, and transport systems is presented, as is the optimization of expenditures in nonproductive areas.... view less
Keywords
fiscal policy; economic growth; Russia
Classification
Economic Policy
Free Keywords
fiscal maneuver; state budget; productive expenditures; budget expenditures structure; structural reforms
Document language
English
Publication Year
2017
Page/Pages
p. 221-239
Journal
Russian Journal of Economics, 3 (2017) 3
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0