How to Ensure Fiscal Sustainability in Russia

The COVID-19 pandemic and global economic crisis aggravated risks to long-term fiscal stability in Russia. The article analyzes why compliance with the fiscal rule prevents us from curbing these risks, and the way in which construction of this rule should be modified to improve its efficiency. It ma...

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Detalles Bibliográficos
Autores principales: Sokolov, I. A., Belev, S. G., Suchkova, O. V.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Pleiades Publishing 2021
Materias:
Economic Policy
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8328120/
https://www.ncbi.nlm.nih.gov/pubmed/34366648
http://dx.doi.org/10.1134/S1075700721040158
Descripción
Sumario:The COVID-19 pandemic and global economic crisis aggravated risks to long-term fiscal stability in Russia. The article analyzes why compliance with the fiscal rule prevents us from curbing these risks, and the way in which construction of this rule should be modified to improve its efficiency. It makes a strong case for system-based fiscal consolidation to enhance fiscal stability and presents options for optimization of spending and tax increases.

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