Fiscal gap is an indicator of long run sustainability of government finance. It is used for assessment of the extent to which current fiscal policy is able to keep government budget solvent in the longer period. Fiscal gap is derived from intertemporal budget constraint which connects flows of...

In the next decade the Russian tax system will face tremendous challenges, due to both objective factors (significant dependence of the Russian economy on foreign trade conjuncture, etc) and a number of decisions in the field of fiscal policy. Viewing these challenges the authors examine three...

This paper deals with 2008-2009 crisis which marked a new stage of Russia’s budgetary policy. Although the budget situation in Russia is presently much better than in the majority of the developed countries, reservation of high dependence on oil proceeds, observed trends in in the structure of...

This paper deals with 2012 Russia's state budget. Authors speak about general characteristics of the budget system in Russia. They analyse revenues from major taxes and main parameters of the federal budget in 2012 and for 2012-2014, explain budget expenditures and give prospects of the...

This paper deals with with the tax policy conducted during crisis period. The author focuses on international experience in tax policy, theoretical considerations and necessary measures.

An international crisis of 2008 – 2009, ever growing debt challenges in Greece, Spain, Ireland and Portugal in 2010 prompted the Government of the Russian Federation to revise the approach to the policy of irresponsible build-up of government expenses and obligations. A trend to curb budget...

This paper deals with the issues of the Russia's federal budget in 2008. The authors focused on the general characteristics of the RF budget system, execution of the federal budget in 2008, analysis of collection of main taxes, expenditures, and assesment of budget parameters without regard to...

This book presents a thorough analysis of international experience that offers insights into budgetary tax expenditures, their evaluation and the use of information for fiscal policy purposes. The author analyzes Russian practice in vested tax benefits and exempts, carries out their quantitative...