The Mechanisms of Forming of Russia’s Non-Oil-and-Gas Budget Balance

Abstract

The article contains proposals to enhance the sustainability of long-term fiscal policy in Russia. The new methodology implies separation of those budget revenues that come from oil and gas industries and imposition of specific constraints on their use (oil-and-gas transfer). Definition of non-oil-and-gas budget balance is also presented. Long-term effects of such a new methodology introduction on federal budget parameters are described as well.