Chernov V.A.Nizhny Novgorod State University of Architecture and Civil Engineering, Nizhny Novgorod, Russian Federation Chernovva@rambler.ru
Importance The article analyzes the geopolitical factors, which require an adequate response of the Russian financial policy. The paper examines negative and positive impacts of geo-economic factors having crucial importance for the Russian economy. Objectives The objective is to identify the key areas of strengthening the position of Russia in geo-economics. Methods The study bases on descriptive methods of analysis of national and international financial relations. While disclosing the reasons for changes and strategic consequences, I have used the categories of dialectics: essence and phenomenon, form and substance, part and whole, individual and general, cause and effect, analysis and synthesis, basis and superstructure, etc. As a result of the study, I have developed recommendations on the use of geo-economic impact to enhance domestic industry and agriculture production, which are essential for sustainable sovereign economy of the Russian Federation. I consider the current global geo-economic processes as a global financial revolution. Results I propose to use the research findings in the fiscal policy of governmental bodies of the Russian Federation, in the Ministry of Economic Development, the Ministry of Finance, in the policy of the Bank of Russia, and in the work of the Security Council of the Russian Federation and the Federation Council. The article is also addressed to the deputies of the State Duma, non-specialist audiences who care about the problems of the national economy. Conclusions and Relevance I came to a conclusion that measures aimed at increasing refinance rate of the Central Bank of the Russian Federation, reduction in export duties on raw material resources do not ensure the industrial and agricultural production development, but continue contributing to the reduction in production share with respect to expanding the fuel and raw materials exports. Such measures conflict with the policies of the Government and President of the Russian Federation. These policies are aimed at import substitution and the use of declared opportunity to create a new foundation of the economy. For this purpose, it is necessary to increase competitive advantages of domestic producers, which determine investment attractiveness of industrial and agricultural sectors of economy. It is essential to develop measures to liberate the Russian financial system from the dependence on foreign currencies.
Keywords: geopolitical factors, geo-economics, fiscal policy, new economic basis, foreign currency fluctuations, global oil price dependence, competitive advantage, investment attractiveness, RF, Central Bank, refinance rate, export duties reduction prospects, ruble strengthening, foreign currency dependence, liberation, global financial revolution
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