On New Aspects in the Monetary Sphere of the Russian Federation
The paper examines the prospects of improving the situation in the Russian economy by using monetary and budgetary policy mechanisms. The subject of the study is the policy of the Central Bank of the Russian Federation and the current specific features of the monetary and credit sphere. The purpose of the study was to reveal the potential in the Russian monetary and foreign currency system the application of which will boost the economic growth and have a positive impact on the structure of the economy as well as to justify of the need to use monetary mechanisms to expand the budget capacity. The paper analyzes the specifics of the Russian monetary and credit sphere; the reasons for the existing excess of liquidity in the banking system; possible mechanisms for increasing the leverage efficiency taking into account the experience of the leading world economies. A conclusion is drawn about the untapped potential in the monetary and budgetary sphere which, if properly used, can substantially strengthen the positions of the Russian economy and stimulate its growth.