The Federal budget of the Russian Federation in the context of national and global uncertainty

Abstract

Sanctions and rapid decline of hydrocarbon prices have «drawn a line» under that stage of Russian economy development, when unsustainable use of the Federal budget revenues was not fatal for the execution of government social programs, been compensated with the inflow of «petrodollars». In 2015 the situation qualitatively changed, forcing to reconsider the structure of both revenue and expenditure sides of the federal budget. These changes were reflected in submitted in late November by the RF Government budget project for 2016 and caused discussion on qualitative issues of the project. Among them: to what extent the project helps to turn the national economy to the direction, opposite to the raw materials’ extraction model of development? Does it ensure import substitution? How does the RF Government take into account the situation in the subjects of the Russian Federation, etc.? Below are presented the results of the discussion of these issues during the meeting, held at Discussion club of the Plekhanov Russian University of Economics on the 5^th of November, 2015.