Russian Federation
Russian Federation
Currently, the Russian economy is facing a number of exogenous and endogenous challenges that hinder economic growth and development. The budget policy of the state can, through the use of fiscal instruments, support declining business activity, which, on the one hand, requires an increase in public spending, including investment, and, on the other hand, a reduction in the tax burden. The paper presents an analysis of the most successful examples of using fiscal tools in modern Russia. The purpose of the article is to analyze the domestic experience of using fiscal instruments and identify the most effective tools for stimulating economic growth. Statistical methods, a systematic approach, and integral analysis were used as the methodological basis of the study. Having studied the best practices of applying fiscal instruments in Russia, the authors identified the most effective tax and budget instruments. Conclusions are drawn about the greatest effectiveness of the application of proportional taxation of personal income and reduction of indirect tax rates. Among the budget instruments, spending on R & D financing, increasing budget investment in infrastructure projects, and human capital are of particular importance. Based on the results of the study, theoretical and practical proposals for adjusting the current budget policy of Russia are formulated.
fiscal instruments, fiscal policy, economic growth, budget investments, R & D expenditures, tax rates
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