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Fiscal maneuver and restructuring the Russian economy
https://doi.org/10.32609/0042-8736-2017-9-5-27
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.
Keywords
fiscal policy,
fiscal maneuver,
state budget,
productive expenditures,
budget expenditures structure,
structural reforms,
economic growth
JEL: B22; H21; H30; H41; H51; H52; H54; H55; H56; H61; H62
About the Authors
A. Kudrin
St. Petersburg State University; Fund “Center for Strategic Research”
Russian Federation
Russian Federation
I. Sokolov
Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
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Review
For citations:
Kudrin A., Sokolov I. Fiscal maneuver and restructuring the Russian economy. Voprosy Ekonomiki. 2017;(9):5-27. (In Russ.) https://doi.org/10.32609/0042-8736-2017-9-5-27
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