Subject The article analyzes the condition of the Russian economy and assesses the crisis bailout plan implementation by the Russian government. Objectives The study aims to review the condition of regional budgets and unveil problems faced by regions. Methods We employ methods of analysis of scientific and information base and synthesis of obtained data. Academic works of domestic and foreign scientists on the theory and practice of economic and financial security form the methodological and theoretical basis of the research. Results We offer measures to change the structure of the Russian economy, reform the financial and monetary policy of the Central Bank of the Russian Federation. The paper presents an alternative economic and fiscal policy, which will enable the Russian economy to overcome the crisis within one year. Conclusions and Relevance 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. The proposed measures will enable about 3 to 4 percent economic growth.
Glaz'ev S. [On inflation targeting]. Voprosy Ekonomiki, 2015, no. 9, pp. 1–12. (In Russ.)
Shul'gin A.G. [A targeted shift of the Russian monetary policy as a result of governmental leadership in strategic cooperation with the Central Bank of the Russian Federation]. Nauchnye doklady labortorii makroekonomicheskogo analiza. WP12. Vysshaya Shkola Ekonomiki = Scientific Reports of Laboratory of Macroeconomic Analysis. Series WP12. Higher School of Economics, 2007, no. 4. (In Russ.)
Voronkina D.V., Volkova A.A., Sudina A.A. [Recent trends in economic development]. Kontsept, 2015, no. 9. (In Russ.) Available at: Link.
Ershov M. [Growth opportunities under currency failures in Russia and financial bubbles in the world]. Voprosy Ekonomiki, 2015, no. 12, pp. 32–50. (In Russ.)
Simonov V. [Anti-Russian sanctions and systemic crisis of the world economy]. Voprosy Ekonomiki, 2015, no. 2, pp. 49–68. (In Russ.)
Simonov V.V. [The economy and the banking system in Russia: Certain urgent problems of antirecessionary policy]. Den'gi i kredit = Money and Credit, 2015, no. 7, pp. 14–20. (In Russ.)
Kaz'min A.Yu. [On implications of financial crisis and monetary regulation under unstable Russian economy]. Vestnik OrelGIET = OrelSIET Bulletin, 2015, no. 2, pp. 145–149. (In Russ.)
Trunin P.V., Bozhechkova A.V., Tolstova E.V. [An analysis of the monetary policy of the Bank of Russia]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2015, vol. 16, no. 18, pp. 3041–3052. (In Russ.) doi: 10.18334/rp.16.18.1950
Sokolova M.A., Tishina V.N. [The impact of financial globalization processes on the national economy]. Molodoi uchenyi = Young Scientist, 2015, no. 6-5, pp. 465–469. (In Russ.)
Dembilov O.E. [The role of the monetary policy of the Bank of Russia in the economic development of the State]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2015, vol. 16, no. 20, pp. 3387–3398. (In Russ.)
Trunin P.V., Bozhechkova A.V., Kiyutsevskaya A.M. [What the international experience in inflation targeting suggests]. Den'gi i kredit = Money and Credit, 2015, no. 4, pp. 61–67. (In Russ.)
Urnov M.Yu. [The economic crisis in Russia: Causes, mechanisms of development, and implications]. Zhurnal Novoi ekonomicheskoi assotsiatsii = Journal of the New Economic Association, 2015, no. 2, pp. 186–190. (In Russ.)
Borshch L.M. [A concept of institutional development of the monetary hegemony from time perspective]. Privolzhskii nauchnyi vestnik = Privolzhsky Scientific Journal, 2015, no. 8, pp. 29–37. (In Russ.)
Parusimova N. [Banking under increasing uncertainty]. Vestnik Orenburgskogo gosudarstvennogo universiteta = Vestnik of Orenburg State University, 2015, no. 4, pp. 318–321. (In Russ.)
Kulikov N.I., Kulikov A.N. [The economic and financial crisis in Russia: Is it only a matter of sanctions?]. Gumanitarnye, sotsial'no-ekonomicheskie i obshchestvennye nauki = Humanities, Social-economic and Social Sciences, 2016, no. 3, pp. 134–142. (In Russ.)
