Russian Federation

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1452783268
Size: 78.46 MB
Format: PDF, ePub
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Output has rebounded strongly and is now above the pre-crisis level in Russia. Inflation pressure stemming from the ruble depreciation has been reigned in and inflation has been brought down. The paper contains a detailed description of developments in the enlarged government budget, including the main determinants of revenue performance. It also describes the main elements of the recent tax reform and provides an overview of outstanding structural issues in the fiscal sector. The new government has proposed a set of far-reaching tax policy reforms.

Russian Federation

Author: Gabriel Di Bella
Publisher:
ISBN: 9781498362856
Size: 27.60 MB
Format: PDF, Mobi
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This Selected Issues paper analyzes Russia's fiscal framework and the oil-price shock. Russia has relied heavily on its abundant natural resource wealth to finance fiscal deficits since the global financial crisis in 2008-09. The pace of adjustment of the oil-price benchmark could be increased by including future prices in its calculation. Although converting oil revenues using a backward-looking average of the exchange rate could also lead to a more rapid fiscal adjustment, it also implies additional technical and communication challenges. In addition, the fiscal anchor could be more ambitious to safeguard intergenerational equity. Expressing the fiscal rule in terms of a minimum "structural" balance could promote greater savings.

Russian Federation

Author: International Monetary Fund. European Dept. Staff
Publisher:
ISBN: 9781484343470
Size: 67.80 MB
Format: PDF
View: 2020
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Russian Federation

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1452743347
Size: 59.35 MB
Format: PDF, ePub, Mobi
View: 2012
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This Selected Issues paper for the Russian Federation discusses existing empirical efforts to measure the determinants of cross-country financial integration. Empirical studies that have adopted the gravity-model framework have found that it is generally successful in explaining bilateral financial flows. If the pension gap were to be financed through the budget, the model simulations suggest that fiscal room is best created by lowering government consumption. Consideration should be given to outsourcing the management of the mandatory contributions to private asset managers.