Volume 11, Issue 3, 1135-1140.

Public Financial Savings of the Russian Federation: The Types, Current Status and Assessments

A. N. SUKHAREV*
Tver State University, Tver, Zhelyabova Str., 33, Russia.

A. A. GOLUBEV
Tver State University, Tver, Zhelyabova Str., 33, Russia.

G. L. TOLKACHENKO
Tver State University, Tver, Zhelyabova Str., 33, Russia.

O. M. DYUZHYLOVA
Tver State Technical University, Afanasy Nikitin Embankment, 22, Russia.

ABSTRACT

The article discloses the content of economic policy in Russia, aimed at the formation of state financial savings in various forms. In addition to creating sovereign funds that are subject to federal budget surpluses, Russia switched to a “defined contribution” pension model where the “mandatory” pension savings are legally owned by the state and, under certain circumstances, may be claimed by the state. At the same time an important source of state financial accumulation is share premiums, formed in the central bank and mostly remaining at its disposal in Russia. There is statistical data showing the scale of state financial accumulation in Russia and its structure.

JEL Classification: G31; H61; H75.

Keywords: Financial Reserves; Federal Budget; Stabilization Fund; the National Welfare Fund; Share Premium; Russian Federation.

* Corresponding author.

Full Text (.pdf)

 

Go Back