DOI: 10.33917/es-1.205.2026.46-53

The author examines peculiarities of the monetary policy of the Bank of Russia and the National Bank of the Republic of Belarus in the context of modern challenges.

References:

1. Konstitutsiya Rossiyskoy Federatsii (prinyata vsenarodnym golosovaniem 12 dekabrya 1993 g. s izmeneniyami, odobrennymi v khode obshcherossiyskogo golosovaniya 1 iyulya 2020 g.) [Constitution of the Russian Federation (adopted by popular vote on December 12, 1993, with amendments approved during the all-Russian vote on July 1, 2020)]. Dostup iz SPS “Konsul’tant Plyus”.

2. Federal’nyy zakon ot 10 iyulya 2002 g. N 86-FZ “O Tsentral’nom banke Rossiyskoy Federatsii (Banke Rossii)” [Federal Law of July 10, 2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”]. Rossiyskaya gazeta, 2002, no 127.

3. Postanovlenie Konstitutsionnogo suda RF ot 3 iyulya 2001 g. N 10-P [Resolution of the Constitutional Court of the Russian Federation of July 3, 2001 No. 10-P]. Vestnik Konstitutsionnogo suda RF, 2001, no 6.

4. Postanovlenie Prezidiuma VAS RF ot 19 aprelya 2002 g. N 5697/01 [Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation of April 19, 2002 No. 5697/01]. Vestnik VAS RF, 2002, no 8.

5. Postanovlenie Prezidiuma Verkhovnogo suda RF ot 7 avgusta 2002 g. N 100pv-02 [Resolution of the Presidium of the Supreme Court of the Russian Federation of August 7, 2002 No. 100пв-02]. Byulleten’ Verkhovnogo suda RF, 2003, no 2.

6. Osnovnye napravleniya edinoy gosudarstvennoy denezhno-kreditnoy politiki na 2025 god i period 2026 i 2027 godov (utv. Bankom Rossii) [Main Directions of the Unified State Monetary Policy for 2025 and the Period 2026 and 2027 (approved by the Bank of Russia)]. Dostup iz SPS “Konsul’tant Plyus”.

7. Dzhonson S., Kvak D. 13 Bankov, kotorye pravyat mirom [13 Banks That Rule the World]. Moscow, Kar’era Press, 2013, 384 p.

8. MVF nazval targetirovanie inflyatsii i gibkiy obmennyy kurs odnimi iz klyuchevykh predposylok dlya povysheniya potentsiala rosta rossiyskoy ekonomiki: Informatsiya Banka Rossii ot 24 maya 2019 g. [IMF Identified Inflation Targeting and a Flexible Exchange Rate as Key Prerequisites for Increasing the Growth Potential of the Russian Economy: Information from the Bank of Russia Dated May 24, 2019]. Dostup iz SPS “Konsul’tant Plyus”.

9. Missiya MVF zayavila o vazhnosti sokhraneniya v Rossii prochnoy makroekonomicheskoy osnovy: Informatsionnoe soobshchenie Banka Rossii ot 21 noyabrya 2019 g. [IMF Mission Stated the Importance of Maintaining a Strong Macroeconomic Framework in Russia: Information Statement of the Bank of Russia Dated November 21, 2019]. Dostup iz SPS “Konsul’tant Plyus”.

10. Mery Banka Rossii sposobstvuyut vosstanovleniyu rossiyskoy ekonomiki — MVF: Informatsionnoe soobshchenie Banka Rossii ot 24 noyabrya 2020 g. [Bank of Russia’s Measures Contribute to the Recovery of the Russian Economy — IMF: Information Statement of the Bank of Russia Dated November 24, 2020]. Dostup iz SPS “Konsul’tant Plyus”.

DOI: 10.33917/es-2.188.2023.50-55

Examines the monetary policy features in the context of the investment agenda. Current policy of the Bank of Russia is analyzed. Business profitability accounting in the monetary policy of the financial regulator contribute to the growth of Russian companies’ investment activity.

References:

1. Lutsenko S.I. Dokhodnost’ biznesa i denezhno-kreditnaya politika [Profitability of Business and Monetary Policy]. Strategicheskie resheniya i riskmenedzhment, 2022, no 4, pp. 326–332.

2. Konstitutsiya Rossiiskoi Federatsii (prinyata vsenarodnym golosovaniem 12 dekabrya 1993 g. s izmeneniyami, odobrennymi v khode obshcherossiiskogo golosovaniya 1 iyulya 2020 g.) [The Constitution of the Russian Federation (adopted by popular vote on 12/12/1993 with amendments approved during the all-Russian vote on 07/01/2020)]. Ofitsial’nyi sait Prezidenta RF, available at: http://www.kremlin.ru/acts/constitution.

3. Opredelenie Konstitutsionnogo suda RF ot 14 dekabrya 2000 g. no 268-O [Determination of the Constitutional Court of the Russian Federation of December 14, 2000 No. 268-O]. Vestnik Konstitutsionnogo suda RF, 2001, no 2.

4. Opredelenie Konstitutsionnogo suda RF ot 15 yanvarya 2003 g. no 45-O [Determination of the Constitutional Court of the Russian Federation of January 15, 2003 No. 45-O]. Vestnik Konstitutsionnogo suda RF, 2003, no 3.

5. Federal’nyi zakon ot 10 iyulya 2002 g. no 86-FZ “O Tsentral’nom banke Rossiiskoi Federatsii (Banke Rossii)” [Federal Law of July 10, 2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”]. Sobranie zakonodatel’stva RF, 2002, no 28.

6. Osnovnye napravleniya edinoi gosudarstvennoi denezhno-kreditnoi politiki na 2023 god i period 2024 i 2025 godov (utv. Bankom Rossii) [The main directions of the unified state monetary policy for 2023 and the period of 2024 and 2025 (approved by the Bank of Russia)]. Konsul’tantPlyus, available at: https://www.consultant.ru/document/cons_doc_LAW_430425.

7. Informatsiya Banka Rossii ot 24 maya 2019 g. “MVF nazval targetirovanie inflyatsii i gibkii obmennyi kurs odnimi iz klyuchevykh predposylok dlya povysheniya potentsiala rosta rossiiskoi ekonomiki” [Information from the Bank of Russia dated May 24, 2019 “The IMF called inflation targeting and a flexible exchange rate one of the key prerequisites for increasing the growth potential of the Russian economy”]. Vestnik Banka Rossii, 2019, no 34.

8. Informatsionnoe soobshchenie Banka Rossii ot 21 noyabrya 2019 g. “Missiya MVF zayavila o vazhnosti sokhraneniya v Rossii prochnoi makroekonomicheskoi osnovy” [Information message of the Bank of Russia dated November 21, 2019 “The IMF mission declared the importance of maintaining a solid macroeconomic foundation in Russia”]. Vestnik Banka Rossii, 2019, no 74.

9. Prikaz Minsel’khoza Rossii ot 19 marta 2014 g. no 83 “Ob utverzhdenii otraslevoi tselevoi programmy “Razvitie khlebopekarnoi promyshlennosti Rossiiskoi Federatsii na 2014–2016 gody” [Order of the Ministry of Agriculture of Russia dated March 19, 2014 no. 83 “On approval of the sectoral target program “Development of the baking industry of the Russian Federation for 2014-2016”]. Konsul’tantPlyus, available at: https://www.consultant.ru/cons/cgi/online.cgi?req=doc&base=EXP&n=582610#8c8RoZTUXZLWGs3n.

DOI: 10.33917/mic-5.94.2020.82-92

The article analyzes the current trends in the policy of investment support and its regional features. Conclusions are given on the level of development of the current state of investment activity in the Republic of Uzbekistan. The article analyzes the indicators characterizing the financial sources of investment in fixed assets: budgetary and extrabudgetary funds, investments guaranteed by the state, funds of enterprises and households, loans from commercial banks, foreign direct investment. As well as the results of investment activities in the regions of the country. Suggestions and recommendations are given to improve the efficiency of investment policy in the country. The results of the study can be used in the analysis and forecasting of structural changes in the country’s investment policy. It is concluded that investment support is a more voluminous economic concept than investment activity, representing a state of the economy, in which the possibility of satisfying the entire country is ensured. While investment support is a system and process that acts as a tool for achieving investment policy indicators. If it is organized correctly, then the conditions for sustainable economic development of the country and its regions are achieved.

The article presents the author’s calculations of the tax burden in specific sectors of Russia’s economy. In result of the industry analysis of the tax burden in Russia the author identifies tendencies of inter-branch tax burden distribution. The article classifies directions of strategic tax reforms in Russia to implement the strategy of real innovative development and to enhance investment attractiveness of the economy.

In developing the Russian regions rating methodological apparatus of “Strategic Matrix of the Russian Federation region” was used, developed by the International League of strategic management, assessment and accounting in partnership with the Institute for Economic Strategies. Its functional purpose is not simply to reflect the current level of the regions development. The main objective is to ensure the strategic planning process, allowing to take account of the market situation variability and to choose with high degree of reliability the optimal strategies of regional development from the number of available alternatives.

The crisis has shown that government together with the central bank can secure financial market stabilization by allocating additional funds to credit institutions for increasing risk reserves and mitigating effects of “toxic” assets accumulation.