An Overview of Normative Documents on Taxation Issues for October-November 2012

Lyudmila Anisimova
Additional contact information
Lyudmila Anisimova: Gaidar Institute for Economic Policy

Russian Economic Development, 2012, issue 12, 65-72

Abstract: The law on the federal budget for 2013 and the planning period 2014–2015 was approved by the RF State Duma in the third reading on 23 November 2012[1]. The domestic debt ceiling is set at the level of 10% GDP, the foreign debt ceiling – at about Rb 2.1 trillion. There figures are above the budget liquidity ceiling recommended by international organizations (10%). We believe this index to be very important, because it describes the ratio between the size of expenditure on debt servicing and redemption and the size of federal budget revenue. An accelerated growth of the value of this index reflects the budget’s shrinking capacity to provide adequate funding for other types of current expenditures in the future. On the whole, the budget for 2013 has been drawn up with a slight deficit (0.8% of GDP) which, in a situation of a reinstated budget rule, is indicative of the government’s intention to exercise real control over the economy’s financial sustainability also at the macro-level.

Keywords: Economic; Legislation (search for similar items in EconPapers)
JEL-codes: E62 E65 H21 H32 (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.iep.ru/files/RePEc/gai/recdev/44Anisimova.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gai:recdev:44

Access Statistics for this article

Russian Economic Development is currently edited by Alexei Vedev

More articles in Russian Economic Development from Gaidar Institute for Economic Policy Contact information at EDIRC.
Bibliographic data for series maintained by Olga Beloborodova ( this e-mail address is bad, please contact ).