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Tools for Recovery of Russian Economy During Crises



V.E. Krolivetskaya
E.O. Maslovskaya
mail26@yandex.ru
meo_ois@mail.ru
head of the Department of Finance and Credit, State Institute of Economics, Finance, Law and Technology, Gatchina; professor, the Department of Banking, Financial Markets and Insurance, St. Petersburg State University of Economics, St. Petersburg; Doctor of Economics, associate professor
post-graduate student, the Department of Banking, Financial Markets and Insurance, St. Petersburg State University of Economics
Gatchina, St. Petersburg
St. Petersburg

Keywords:

  • economic crises
  • financial tools
  • monetary and budget policy
  • financial sources of economic recovery
  • We look at the causes of the economic crises that the economy of new Russia has faced. Special attention is paid to the current crisis connected with the pandemic of COVID-19. We characterize the financial tools of monetary and budget policy that were applied during crisis periods for the recovery of Russian economy and alleviation of crisis consequences. We specify the tools applied during the COVID-19 crisis and what differs them from the tools of the previous crises. Certain guidelines are given concerning the expansion of applying tools of budget policy to ensure the recovery and growth of Russian economy.