Hidden Bibliographic Details
| Other authors / contributors: | Belhocine, Nazim, author.
International Monetary Fund.
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| ISBN: | 1513521896
9781513521893
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| ISSN: | 1934-7685
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| Digital file characteristics: | data file
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| Notes: | "Prepared by Nazim Belhocine, Francesca Caselli, Francois Painchaud, and Agustin Roitman."--Page 2 of pdf.
"August 2015."
"July 2, 2015"--Page 2 of pdf.
Includes bibliographical references.
Online resource; title from pdf title page (IMF Web site, viewed August 6, 2015).
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| Summary: | This Selected Issues paper analyzes Russia's fiscal framework and the oil-price shock. Russia has relied heavily on its abundant natural resource wealth to finance fiscal deficits since the global financial crisis in 2008-09. The pace of adjustment of the oil-price benchmark could be increased by including future prices in its calculation. Although converting oil revenues using a backward-looking average of the exchange rate could also lead to a more rapid fiscal adjustment, it also implies additional technical and communication challenges. In addition, the fiscal anchor could be more ambitious to safeguard intergenerational equity. Expressing the fiscal rule in terms of a minimum "structural" balance could promote greater savings.
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| Other form: | Print Version: Russian Federation: Selected Issues Washington, D.C. : International Monetary Fund,2015 9781513521893
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| Standard no.: | 10.5089/9781513521893.002
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