Russian Federation: Selected Issues

International Monetary Fund

No 2006/430, IMF Staff Country Reports from International Monetary Fund

Abstract: Russia’s large oil and gas reserves play a key role in its economic development. As with many other large oil exporters, Russia’s energy wealth is also posing numerous challenges to macroeconomic management. Although fiscal policy has saved a large part of the oil windfall in the Oil Stabilization Fund (OSF), this has not been guided by a consistent long-term framework. The framework is illustrated with numerical simulations of different fiscal spending rules that are consistent with sustainable paths of consumption out of oil and gas wealth over time.

Keywords: ISCR; CR; FSU country; CIS country; oil revenue; oil price; consumption rule; w Russia; Oil prices; Oil; gas and mining taxes; Exports; Baltics (search for similar items in EconPapers)
Pages: 88
Date: 2006-12-06
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Citations: View citations in EconPapers (5)

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