Editing Economy of Russia (section)

==Public policy==
===Federal, regional and municipal budgets===
{{see also|Federal budget of Russia}}

===Fiscal policy===
Russia was expected to have a Government Budget deficit of $21 billion in 2016.<ref>{{cite news|title=Russia's Budget Deficit to Reach $21Bln in 2016 – Finance Ministry|url=http://www.themoscowtimes.com/business/article/russias-budget-deficit-to-reach-21bln-in-2016--finance-ministry/552575.html|archive-url=https://web.archive.org/web/20151214051747/http://www.themoscowtimes.com/business/article/russias-budget-deficit-to-reach-21bln-in-2016--finance-ministry/552575.html|archive-date=14 December 2015|access-date=30 May 2016|agency=The Moscow Times}}</ref> The budget deficit narrowed to 0.6% of GDP in 2017 from 2.8% in 2016.<ref>{{Cite news|url=http://www.worldbank.org/en/country/russia/overview#3|title=Overview|work=World Bank|access-date=22 April 2018|language=en|archive-date=13 May 2020|archive-url=https://web.archive.org/web/20200513190529/https://www.worldbank.org/en/country/russia/overview#3|url-status=live}}</ref>

===Debts===

Russia is a [[List of countries by net international investment position per capita|creditor nation]] and has a positive [[net international investment position]] (NIMP). Russia has one of the [[List of countries by government debt|lowest government debts]] (total external and domestic) and [[List of countries by external debt|lowest external debts]] (total public and private) among major economies.<ref>{{cite web |url=https://www.trtworld.com/magazine/russian-finances-strong-but-economic-problems-persist-36750 |title=Russian finances strong but economic problems persist |work=[[TRT World]] |date=29 May 2020 |access-date=12 February 2022 |quote=Now Russia is one of the least indebted countries in the world – thanks to all the oil revenue. |archive-date=12 April 2022 |archive-url=https://web.archive.org/web/20220412005411/https://www.trtworld.com/magazine/russian-finances-strong-but-economic-problems-persist-36750 |url-status=live }}</ref><ref>{{cite web | url=https://www.ceicdata.com/en/indicator/russia/government-debt--of-nominal-gdp | title=Russia Government Debt: % of GDP, 2011 – 2023 &#124; CEIC Data | access-date=12 October 2023 | archive-date=25 September 2023 | archive-url=https://web.archive.org/web/20230925190428/https://www.ceicdata.com/en/indicator/russia/government-debt--of-nominal-gdp | url-status=live }}</ref><ref name="ReferenceA">{{cite web | url=https://www.ceicdata.com/en/indicator/russia/external-debt--of-nominal-gdp | title=Russia External Debt: % of GDP, 1993 – 2023 &#124; CEIC Data | access-date=12 October 2023 | archive-date=5 July 2023 | archive-url=https://web.archive.org/web/20230705163542/https://www.ceicdata.com/en/indicator/russia/external-debt--of-nominal-gdp | url-status=live }}</ref><ref>{{cite web | url=https://data.worldbank.org/indicator/GC.DOD.TOTL.GD.ZS?locations=RU | title=World Bank Open Data | access-date=12 October 2023 | archive-date=5 July 2023 | archive-url=https://web.archive.org/web/20230705170547/https://data.worldbank.org/indicator/GC.DOD.TOTL.GD.ZS?locations=RU | url-status=live }}</ref>

In 2022, domestic government debt increased by 13.9 percent to 18.78 billion rubles.<ref>https://ach.gov.ru/upload/iblock/bca/ke0rrd7mtyvihkmhsjv43bgk5rzw1wc8.pdf {{Webarchive|url=https://web.archive.org/web/20230705163550/https://ach.gov.ru/upload/iblock/bca/ke0rrd7mtyvihkmhsjv43bgk5rzw1wc8.pdf |date=5 July 2023 }} {{bare URL PDF|date=February 2024}}</ref> Russia Domestic government Debt data was reported at RUB&nbsp;19,801.921 billion in May 2023.<ref>{{cite web | url=https://www.ceicdata.com/en/russia/public-domestic-debt/domestic-debt | title=Russia Domestic Debt &#124; Economic Indicators &#124; CEIC | access-date=12 October 2023 | archive-date=5 July 2023 | archive-url=https://web.archive.org/web/20230705163543/https://www.ceicdata.com/en/russia/public-domestic-debt/domestic-debt | url-status=live }}</ref>

In 2022, the share of external debt to GDP was 17%, decreasing from 26.3% in 2021.<ref name="ReferenceA"/><ref>{{cite web | url=https://www.statista.com/statistics/1049281/russia-external-debt-to-gdp-ratio/ | title=Russia: External debt to GDP 2022 | access-date=12 October 2023 | archive-date=5 July 2023 | archive-url=https://web.archive.org/web/20230705163543/https://www.statista.com/statistics/1049281/russia-external-debt-to-gdp-ratio/ | url-status=live }}</ref> Russia's external debt was estimated at 381.8 billion U.S. dollars as of 1 January 2023, down 20.8 percent from the previous year.<ref>{{cite web | url=https://www.statista.com/statistics/1049304/russia-external-debt/ | title=Russia foreign debt 2023 | access-date=12 October 2023 | archive-date=6 July 2023 | archive-url=https://web.archive.org/web/20230706204712/https://www.statista.com/statistics/1049304/russia-external-debt/ | url-status=live }}</ref> Russia External Debt reached USD&nbsp;357.9 billion in March 2023, compared with USD&nbsp;380.5 billion in the previous quarter.<ref>{{cite web | url=https://www.ceicdata.com/en/indicator/russia/external-debt | title=Russia External Debt, 2000 – 2023 &#124; CEIC Data | access-date=18 July 2021 | archive-date=12 August 2021 | archive-url=https://web.archive.org/web/20210812062357/https://www.ceicdata.com/en/indicator/russia/external-debt | url-status=live }}</ref>

===National wealth fund ===
{{see also|Russian National Wealth Fund}}
On 1 January 2004, the [[Government of Russia]] established the [[Stabilization fund of the Russian Federation]] as part of the [[Federal budget of Russia|federal budget]] to balance it if [[oil price|price of oil]] falls. On 1 February 2008, the Stabilization fund was divided into two parts. The first is a reserve fund equal to 10% of GDP and was to be invested in a similar way as the Stabilization Fund. The second is the National Welfare Fund of the Russian Federation to be invested in more risky instruments, including some shares in domestic and foreign companies. The Reserve fund which started with $125 billion was exhausted by 2017 and discontinued. The National Wealth Fund had started with $32 billion in 2008 and by August 2022, peaked at $201 billion.<ref>{{cite web |title=Russian National Wealth Fund up almost $23 bln in July to over $200 bln, ministry says |url=https://tass.com/economy/1490871 |date=8 August 2022 |access-date=20 January 2024 |archive-date=3 December 2022 |archive-url=https://web.archive.org/web/20221203193014/https://tass.com/economy/1490871 |url-status=live }}</ref> December 2023 saw it fall to $133 billion with liquid assets also down at $56 billion.<ref>{{cite web |title=Russia's National Wealth Fund totals $135 bln as of January 1 — finance ministry |url=https://tass.com/economy/1733351 |date=17 January 2024 |access-date=18 January 2024 |archive-date=18 January 2024 |archive-url=https://web.archive.org/web/20240118170246/https://tass.com/economy/1733351 |url-status=live }}</ref>

===Corruption===
[[File:Countries by Corruption Perceptions Index score (2019).png|thumb|right|300px|[[Corruption Perceptions Index]] by Transparency International, 2019]]
Russia was the lowest rated European country in [[Transparency International]]'s [[Corruption Perceptions Index]] for 2020; ranking 129th out of 180 countries.<ref>{{Cite web|title=Corruptions Perceptions Index 2020|url=https://www.transparency.org/en/cpi/2020/index/rus|access-date=31 January 2021|website=Transparency.org|date=28 January 2021|language=en|archive-date=30 January 2021|archive-url=https://web.archive.org/web/20210130233226/https://www.transparency.org/en/cpi/2020/index/rus|url-status=live}}</ref> Corruption is perceived as a significant problem in Russia,<ref name="CPI2015">{{cite web|title=Corruption Perceptions Index 2014|date=3 December 2014|url=http://www.transparency.org/cpi2014/results|access-date=4 December 2015|publisher=Transparency International|archive-date=29 September 2014|archive-url=https://web.archive.org/web/20140929023046/http://www.transparency.org/cpi2014/results|url-status=dead}}</ref> affecting various aspects of life, including the economy,<ref>{{Cite web|last=Alferova|first=Ekaterina|date=26 October 2020|title=В России предложили создать должность омбудсмена по борьбе с коррупцией|trans-title=Russia proposed to create the post of Ombudsman for the fight against corruption|url=https://iz.ru/1078501/2020-10-26/v-rossii-predlozhili-sozdat-dolzhnost-ombudsmena-po-borbe-s-korruptciei|access-date=5 November 2020|website=Известия|publisher=[[Izvestia]]|language=ru|archive-date=2 November 2020|archive-url=https://web.archive.org/web/20201102141829/https://iz.ru/1078501/2020-10-26/v-rossii-predlozhili-sozdat-dolzhnost-ombudsmena-po-borbe-s-korruptciei|url-status=live}}</ref> business,<ref>{{Cite web|date=June 2020|title=Russia Corruption Report|url=https://www.ganintegrity.com/portal/country-profiles/russia/|access-date=5 November 2020|website=GAN Integrity|language=en-US|archive-date=20 December 2019|archive-url=https://web.archive.org/web/20191220035258/https://www.ganintegrity.com/portal/country-profiles/russia/|url-status=live}}</ref> [[Government of Russia|public administration]],<ref name="Suhara">{{cite web|author=Suhara, Manabu|title=Corruption in Russia: A Historical Perspective|url=https://src-h.slav.hokudai.ac.jp/sympo/03september/pdf/M_Suhara.pdf|url-status=dead|archive-url=https://web.archive.org/web/20160304192618/https://src-h.slav.hokudai.ac.jp/sympo/03september/pdf/M_Suhara.pdf|archive-date=4 March 2016|access-date=4 December 2015}}</ref><ref>{{Cite web|title=Russia lost 4 billion dollars on unfavorable state procurement contracts in the last year|url=https://meduza.io/en/news/2015/12/07/russia-lost-4-billion-dollars-on-unfavorable-state-procurement-contracts-in-the-last-year|access-date=7 December 2015|website=Meduza|archive-date=4 June 2016|archive-url=https://web.archive.org/web/20160604042405/https://meduza.io/en/news/2015/12/07/russia-lost-4-billion-dollars-on-unfavorable-state-procurement-contracts-in-the-last-year|url-status=live}}</ref> [[Law enforcement in Russia|law enforcement]],<ref>{{cite news|date=2010|title=Cops for hire|url=https://www.economist.com/node/15731344|newspaper=The Economist|access-date=4 December 2015|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208110401/http://www.economist.com/node/15731344|url-status=live}}</ref> [[Healthcare in Russia|healthcare]],<ref>{{cite web|author1=Klara Sabirianova Peter|author2=Tetyana Zelenska|date=2010|title=Corruption in Russian Health Care: The Determinants and Incidence of Bribery|url=http://www.iza.org/conference_files/worldb2010/zelenska_t5300.pdf|access-date=4 December 2015|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208075733/http://www.iza.org/conference_files/worldb2010/zelenska_t5300.pdf|url-status=live}}</ref> and [[Education in Russia|education]].<ref>{{cite web|author1=Elena Denisova-Schmidt|author2=Elvira Leontyeva|author3=Yaroslav Prytula|date=2014|title=Corruption at Universities is a Common Disease for Russia and Ukraine|url=http://ethics.harvard.edu/blog/corruption-universities-common-disease-russia-and-ukraine|access-date=4 December 2015|publisher=Harvard University|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208155403/http://ethics.harvard.edu/blog/corruption-universities-common-disease-russia-and-ukraine|url-status=live}}</ref> The phenomenon of corruption is strongly established in the historical model of public governance in Russia and attributed to general weakness of [[rule of law]] in Russia.<ref>{{Cite web|last=Maynes|first=Charles|date=26 January 2020|title=New Reports Highlight Russia's Deep-Seated Culture of Corruption|url=https://www.voanews.com/a/europe_new-reports-highlight-russias-deep-seated-culture-corruption/6183207.html|access-date=5 November 2020|website=Voice of America|publisher=[[Voice of America]]|language=en|archive-date=27 January 2020|archive-url=https://web.archive.org/web/20200127020812/https://www.voanews.com/europe/new-reports-highlight-russias-deep-seated-culture-corruption|url-status=live}}</ref> As of 2020, the percentage of business owners who distrust law enforcement agencies rose to 70% (from 45% in 2017); 75% don't believe in impartiality of courts and 79% do not believe that legal institutions protect them from abuse of law such as racketeering or arrest on dubious grounds.<ref>{{Cite web|date=26 May 2021|title=80% of Russian Business Owners Fear Arbitrary Arrest|url=https://www.themoscowtimes.com/2021/05/26/80-of-russian-business-owners-fear-arbitrary-arrest-a74011|access-date=26 May 2021|website=The Moscow Times|language=en|archive-date=26 May 2021|archive-url=https://web.archive.org/web/20210526194653/https://www.themoscowtimes.com/2021/05/26/80-of-russian-business-owners-fear-arbitrary-arrest-a74011|url-status=live}}</ref>