Change in the role of budgetary and fiscal policy in a global economic recession

Rastegaeva F.S¹, Shashkova T.N.¹, Shalina O.I¹, Tokareva G.F.¹
¹ Финансовый университет при Правительстве Российской Федерации, Уфимский филиал

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Journal paper

Russian Journal of Entrepreneurship *
Volume 18, Number 6 (March 2017)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

Abstract:
The article substantiates the role of budgetary and fiscal policy of the state in terms of an on-going global economic recession. Under conditions of the exhaustion of monetary tools of the state economic policy, including the unprecedented refinancing rates recession, the governments of developed countries are reviewing the role and importance of fiscal policy. In the US, EU countries and Japan, we may see the emergence of new trends in tax and budget stimulation, including the return to the use of fiscal policy tool, the increase in its role, the harmonious combination of monetary and fiscal policies, the supranational regulation etc. Developed countries, in the context of the state budget revenues, shift the tax burden from the corporate taxes to individual taxes, and in the context of expenditures they cut the public expenditures in favor of transfers to the population.

Keywords: trends, federal budget, budgetary and fiscal policy, role

References:

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