Basic Concepts of Russia Fiscal Policy: Experience for China. Part 1

From the editor. In issues 1–2 of the journal “Studies on Russian Economic Development” for 2021, we publish articles by our Chinese colleague, Xu Wenhong, a researcher at the Institute of Russian, East European and Central Asian Studies of the Chinese Academy of Social Sciences. Despite the fact that this text examines not only economic, but also political changes in Russia that have occurred in the past 20 years, it seemed to us important to look at the transformation of economic and financial policy in Russia by a representative of Chinese economic science. Many things that seem obvious to us look different from abroad. It is all the more interesting that the author sees lessons for China in the development of the Russian economy. Abstract - Fiscal policy is an important way for the government to employ financial resources to achieve the country’s strategic goals and development tasks in a specific period. It is also an important measure to reach out to the general public and mobilize their support. Russians tend to view the president and the administration separately, but in fact Putin has always been the direct responsible person during his term as prime minister and the ultimate responsible person during his presidency. Therefore, this article takes Putin’s 20 years of service both as prime minister and as president as a whole, reviews the basic contexts and concepts of the fiscal policies adopted by the seven administrations and explores Russia’s economic development and its modernization process during these 20 years, hoping to provide some enlightenment for China’s economic development.