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Strengthening Russia's Fiscal Framework

Though many aspects of Russia's fiscal policy framework are close to best practice on paper, actual practice in recent years has been moving away from best practice. In particular, the continued focus on the overall rather than the nonoil balance, and the regular use of supplemental budgets to...

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Bibliographic Details
Main Author: Zakharova, Daria
Other Authors: Gust, Charleen
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Energy: Demand And Supply
Foreign Exchange Reserves
Oil Prices
Public Finance & Taxation
Oil
Investments: Energy
Taxes
Reserve Assets
Fiscal Policy
Structure, Scope, And Performance Of Government
Petroleum Industry And Trade
National Government Expenditures And Related Policies: General
Central Banks
Commodities
Energy: General
Business Taxes And Subsidies
Banks And Banking
Institutions And The Macroeconomy
Macroeconomics
Prices
Banking
Investment & Securities
National Budget, Deficit, And Debt: General
Taxation
Oil, Gas And Mining Taxes
Monetary Policy
Public Finance
Russian Federation
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Though many aspects of Russia's fiscal policy framework are close to best practice on paper, actual practice in recent years has been moving away from best practice. In particular, the continued focus on the overall rather than the nonoil balance, and the regular use of supplemental budgets to spend windfall oil revenues contribute to procylicality of fiscal policy, risking costly boom-bust cycles. Against this background, this paper suggests several improvements to the framework for fiscal policy
Physical Description:29 pages
ISBN:9781475502282

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