future receipts is called its fiscal gap.This study estimates Russia's 2013 fiscal gap at 890 trillion rubles or $28 trillion …. This longterm budget shortfall is 8.4 percent of the present value of projected GDP. Consequently, eliminating Russia … that the Russia's energy resources are finite, whereas its expenditure needs are not. Moreover, Russia is aging and facing …

fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because … these are the investments in the institutional infrastructure with a high rate of return. Furthermore, Russia currently …, can be put in the context of medium-term expenditure framework (MTEF) that evolve in Russia. A general framework is …