IMF paper discusses strengthening Russia's fiscal framework


A working paper released by the International Monetary Fund in March suggests a number of improvements that could be made to the Russian framework for fiscal policy.

Authors Charleen Gust and Daria Zakharova explain that although many aspects of Russia's fiscal policy framework are close to best practice on paper, actual practice in recent years has been moving away from best practice.

"In particular," the researchers note, "the continued focus on the overall rather than the non-oil balance, and

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