Surplus of Russian Federation Budget: Causes and Effects (on the Example of the RF Federal Budget)
The article examines issues related to the balance of the state budget. Examples of budget policies of individual countries are given. The case of forming a surplus budget of the Russian Federation is analyzed in detail. The main reasons for making such a decision in the Russian budget practice are revealed. The article reveals the macroeconomic features of the Federal budget surplus formation in the current budget cycle. The structure of assets of the national welfare Fund of the Russian Federation is presented and the forecast of changes in its volume for the period 2020-2023 is given. Data on possible changes in the volume of public debt of the Russian Federation and sources of its financing are presented. The article describes possible scenarios for using the budget surplus in the context of the combined impact of the oil shock and the spread of Covid-19, which are sources of serious threats that create additional budget risks for the country. It is concluded that in the current economic situation, it is most appropriate to make the transition to a "new fiscal" regime as part of the restructuring of the Russian budget policy based on a radical revision of national economic and financial priorities.