Russia today: economy, finance, society
Importance Considering crisis phenomena in the Russian economy, finance and society, it is necessary to find the main reasons for the economic and financial crisis in Russia. Objectives The research reveals causes of crisis phenomena in the country and identifies the main reasons for adverse effects and remedies. Methods We applied methods of analysis of the scientific and information basis, synthesis of data into theoretical conclusions and practical advice. The methodological framework comprises scientific proceedings of national and foreign scholars on the theory and practice of economic and financial support. Results We evaluated operations of the financial departments of the federal government and the Central Bank of the Russian Federation, reviewed and proposed a new, alternative economic and financial policies of Russia that would encourage consumer demand and investing activities of the business and public, thus leading to the economic upsurge. We analyzed implications of the austerity measures in Greece within a five year period and examined what governments and central banks of Japan, USA, China, EU had undertaken within the 2008-2009 crisis. Conclusions and Relevance The Russian economy has been facing the tide of crisis phenomena for the recent nine months of 2015, with neither indicator of the Russian economy demonstrating somewhat positive trends. Such critical situation may result in social implications. Russia needs independent and autonomous economic and financial policies, which would concurrently allow for the circulation of the U.S. dollar, Euro, yuan.