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Finance and Credit
 

General financial and economic structure of modern Russia

Vol. 28, Iss. 11, NOVEMBER 2022

Received: 18 July 2022

Received in revised form: 29 September 2022

Accepted: 13 October 2022

Available online: 29 November 2022

Subject Heading: Financial system

JEL Classification: E44, Е60, Е69

Pages: 2492–2515

https://doi.org/10.24891/fc.28.11.2492

Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. The article addresses financial and economic structure of modern Russia.
Objectives. The purpose is to determine the financial and economic structure of modern Russia.
Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analysis.
Results. The paper shows a connection between the growth of accounts payable and the excess of growth in the profitability of sold goods, products, works, services over the growth in return on assets, and, as a result, increasing need to implement measures to tighten the monetary policy of the Bank of Russia concerning inflation targeting. It also defines the importance of GDP growth, including GDP per capita (in terms of purchasing power parity, constant and current prices) for the financial and economic structure of modern Russia that links the ability to provide general government expenditures (debt), primary and net lending (government sector borrowings), the volume of exports and imports. The positive moment of the current financial and economic structure is steadily high values of growth in the current account balance, in particular through a stable decline in the volume of exports of goods and services.
Conclusions. Understanding the current financial and economic structure of modern Russia demonstrates the monetary authorities the importance of increase in the current account balance in the context of GDP growth and general government expenditures at current prices in the national currency.

Keywords: system, sustainability, finance, economics

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