MINISTRY OF EDUCATION AND SCIENCE OF THE RUSSIAN FEDERATION
PLEKHANOV RUSSIAN ACADEMY OF ECONOMICS
INTERNATIONAL BUSINESS SCHOOL
Coursework in Economics
Public debt problem in Russia
Student: Merefiianskyi Artem G. Group: 5203
Supervisor: Savinova M.
Theoretical, historical and legislative aspects of public debt.
4 § 1. The meaning of public debt for a country.
§ 2. Public debt and its structure.
§ 3. Historical aspects of public debt.
Public debt problems in Russia.
§ 1. Russian Federation Public debt. Up-to-date Government of the problem.
12 § 2. Relationships between Russia and foreign countries.
Russian public debt management policy.
§ 1. The strategy of regulation public debt of Russian Federation in 2003-2005.
16 § 2. The main directions of public debt regulating strategy for the period from
17 2006 to 2008.
Almost every country in the world, while doing economic transformations, resorts to external sources of financing. Rational approach to foreign loans, credits and other types of help contributes into acceleration of economic development and solving social-economic problems. However the absence of complete integrated government policy in attracting and using external financial sources leads to formation of external debt which becomes a large barrier heading toward to economic transformations. Majority of developed countries, members of Paris club, are not only the largest creditors, but also greatest debtors. Starting from 17th century along with the development of government credit operations the attracting of capital appeared in the country in order to satisfy every institution's needs. It played its role in financing government deficits. Another important moments in governmental policy is providing other countries with loans and securities. They tended the railway construction in Russia in the second half of 19th century, recovery of agriculture in the beginning of the 20th century as well as after the Second World War. Government loans are also widely used nowadays. In this course work using methods of macroeconomic analysis an attempt to formulate the problem of structuring and classifying government debt was made. Also I will try to investigate the system of controlling public debt. It is also worth considering that the problem of public debt in Russia is very wide and many-sided. The urgency of the given topic is caused by the problem of a public debt, which is a key to macroeconomic stabilization in the country. The condition of the federal budget, gold and exchange currency reserves, stability of national currency, a level of interest rates, inflation, an investment climate depend on its decision. Besides considering attempts of the international creditors to use a debt problem for political pressure upon Russia, competent settlement of a public debt becomes the factor of national safety and a condition of carrying out independent external and internal policy. Recent economic events have caused the questions of public debt management to be the main and very important. Moreover, it is possible to say with confidence, that the given topic will remain the major subject for discussion also in the nearest future. The purpose of my work '" to choose the most rational strategy of management of an external and internal public debt of the Russian Federation. 1.1 The meaning of public debt for a country
Leading part of any financial system of any country is the Government budget. The Government budget is a set of the financial...
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|Emerging Europe: Total Public Debt, 2004 |
|Percent of GDP |
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