MEASURES TO SUPPORT FOR THE RUSSIAN ECONOMY AND POSSIBLE MACROECONOMIC CONSEQUENCES UNDER SANCTION PRESSURE

Abstract

The relevance of the research has been substantiated. Russia has faced extraordinary economic circumstances. Russia is under unprecedented external pressure from a wide range of economic sanctions. In this connection, there is an objective need for a systematic analysis and forecasting of measures taken to support the Russian economy. The purpose of the research is to study measures to support the Russian economy and identify possible macroeconomic consequences of sanctions. In the research such methods of modern scientific knowledge as analysis, synthesis, induction, abstraction have been used. This article discusses the main directions of the anti-sanctions plan of the Russian Government, such as tax incentives, subsidies and the weakening of state control. The current price situation has been considered. The financial measures taken by the government to ensure the stability of the economy and support citizens in the condition of sanctions, as well as tax support measures have been considered. The possible results of the measures taken have been indicated. Some results of the forecast for the Russian economy made by S&P Global Market Intelligence have been presented. In addition, these data are compared with the first macroeconomic consensus forecast of the Bank of Russia since the expansion of Western sanctions against Russia and the extension of blocking to the reserves of the Central Bank itself. The author's presentation of the macroeconomic mechanism of sanctions has been augmented.

Keywords

• sanctions
• finance
• taxes
• support
• sustainability
• economy
• subsidies
• macroeconomic consequences
• anti-sanctions plan
• inflation
• consensus forecast
• exports
• administrative measures