Subject The article assesses the current condition of the Russian economy based on financial results and facts, and the financial policy of the Bank of Russia during the economic crisis. Objectives The purpose of the paper is to analyze the implementation of the crisis bailout plan by the government of the Russian Federation, the efficiency of public and private companies, the importance and share of foreign investment in the economy of Russia. Methods We employed methods of analysis of scientific and information base, synthesis of obtained data into theoretical conclusions and practical recommendations. The methodological and theoretical basis of the research are scientific works of domestic and foreign scientists on the theory and practice of economic and financial security. Results The paper presents measures to change the structure of the Russian economy, reform the financial and monetary policy of the Central Bank of the Russian Federation. We offer an alternative economic and fiscal policy, which will enable the Russian economy to overcome crisis within one year. Conclusions The findings show that the current economic crisis is of internal nature. Therefore, it is crucial to ensure the growth of household disposable income, reduce inequalities and improve the living standards of the population. To achieve this, it is necessary to decrease interest rates on loans of up to 8 percent per annum, establish the key interest of maximum 3 percent, exercise tight financial control on the part of the Central Bank of the Russian Federation.
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