Importance The article overviews the current circumstances of Russia's economic development and the specifics of the macroeconomic policy. The research determines general issues of monetary and fiscal activities and budgetary policies and formulates trends for their modification. Objectives The research pursues examining opportunities and tools (areas) of the macroeconomic policy that would alleviate the recession in the Russian economy and address changes in its structure. Methods The research draws upon a comparative analysis, official statistical data and my judgments, thus providing a qualitative evaluation of solutions made in the monetary, fiscal and budgetary policy. I apply data on trends in interest rates in the developed countries. The research identifies the specifics of interest rate dynamics in Russian and foreign countries, calculates the average profitability for a decade in various industries. I also evaluate changes in human resources of the sectors, thus demonstrating how human resources migrate among the sectors, structural triangle works impeding the development of the Russian economy and keeping the focus on trade in raw materials. Results The article highlights that economy represents a multi-purpose system. That is why an increase in interest rates will affect investment and economic growth rate, thus aggravating the recession in 2015. The monetary, fiscal and budgetary policies should be coherent and coordinated in order to stimulate changes in economic structure. Conclusions and Relevance I conclude that the existing monetary clich?s in the monetary and fiscal policy preclude significant changes in the existing paradigm of the policy. However, there are approaches that could alter the content of the monetary and fiscal policy. In this article, I substantiate the principle of interest rate portfolio and bad balance sheet as effective principles of the monetary and fiscal policies. Banks with different loan portfolio structure should have different interest rates so to meet financial needs of various economic activities.
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