- Sergei Alexashenko, and Augusto López-Claros
- Published Date:
- April 1998
© 1998 International Monetary Fund
Cover design, charts, and composition:
Theodore F. Peters, Victor Barcelona, and IMF Graphics Section
Fiscal policy issues during the transition in Russia / Augusto Lopez-Claros and Sergei V. Alexashenko. — Washington, DC : International Monetary Fund, 
p. cm. — (Occasional paper ; ISSN 0251-6365 ; 155)
1. Fiscal policy — Russia (Federation). 2. Taxation — Russia (Federation) — Expenditures, public — Russia (Federation) — Russia (Federation) — Social policy. I. Alexashenko, Sergei V. II. Title. III. Series: Occasional paper (International Monetary Fund); no. 155. HJ1211 .52 .L26 1998
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The following symbols have been used throughout this paper:
… to indicate that data are not available;
n.a. not applicable;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
–between years or months (e.g., 1994–95 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g., 1994/95) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding. The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
Augusto Lopez-Claros is Senior Economist in the European II Department of the International Monetary Fund; he was Resident Representative of the IMF in Moscow during 1992–95. Sergei V. Alexashenko is First Deputy Governor of the Central Bank of Russia since December 1995. Between May 1993 and March 1995, he was Deputy Minister of Finance of the Russian Federation. The authors would like to thank Brian Aitken, Julian Berengaut, Odd Per Brekk, Daniel Citrin, Donal Donovan, Sanjeev Gupta, Robert Hagemann, Vincent Koen, Christopher Lane, Aleksei V. Mozhin, John Norregaard, John Odling-Smee, Carlos Silvani, and Thomas Wolf for their useful comments. In Moscow, Sergei M. Ignatiev, Andrei I. Kazmin, Sergei A. Vasiliev, Yevgenii G. Yasin, and Mikhail M. Zadornov provided key insights into various aspects of fiscal policy in Russia during the period under consideration. The authors remain solely responsible for the contents of the paper and their views do not necessarily reflect the views of the IMF or of the Central Bank of Russia. In the same spirit, expressions of gratitude to the above colleagues do not imply any responsibility on their part or of the institutions they represent. The authors are grateful to Esha Ray of the External Relations Department for her expert editorial contributions and for coordinating production of the publication and to Constance Strayer for her excellent assistance in managing the manuscript. In Moscow, Ksenya V. Maleeva provided able additional logistical support.