Russian Journal of Economics and Law (Jun 2022)
Processing industry of Russia, anticrisis measures, credit excess and offers for the Bank of Russia under new anti-Russia sanctions
Abstract
Objective: to analyze the transformations in the Russian manufacturing industry associated with the massive renewal of the material and technical base of the machine-building sector.Methods: the article uses empirical, logical, comparative and statistical methods of analysis.Results: under the new sanctions, mechanical engineering, primary machine-building, should become the main area of transformations in the Russian industry, functioning on a new technological basis. The article analyzes the Russian machinebuilding sector and the development strategy of the manufacturing industry for the period up to 2035; the sources of financing of the Russian manufacturing industry are investigated; the current state of development of the Russian manufacturing sectors for January-March 2022 is shown; the anti-crisis measures of the Bank of Russia in the context of new economic sanctions are analyzed; a package of additional measures is considered related to the relief of credit overheating, accounts payable and receivables at Russian industrial enterprises in the short-, mediumand long-term.Scientific novelty: under the large-scale restructuring of the Russian economy, the Bank of Russia needs to switch to the nominal GDP targeting mode, to carry out the denomination of settlements and payments for export products in rubles tied to the target price of gold as a standard of value; to minimize and mitigate the risks of inflationary factors in industry by creating a Bank of bad debts.Practical significance: the main provisions and conclusions of the article can be used to carry out a large-scale modernization of the manufacturing industry of the Russian economy, ensuring the flow of modern technologies and products to the domestic market and taking into account the technical and economic features of the development of Russian regions.
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