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The financial system of the Russian Federation is ... The budget of the Russian Federation. The modern financial system of the Russian Federation

The state of the country's life depends on the state of the financial system. In macroeconomics, it occupies one of the most important places. For this reason, it is necessary to study in detail the financial concept of Russia and to realize the importance of this system. It is necessary to delve deeply into the principle of the operation of its functioning and mechanisms.

General information

At present, the financial system of the Russian Federation is the object of unquenchable disputes and discussions. There are many current problems with which it must cope. For example, insufficient level of satisfaction of each individual's needs, great social tension, disproportionate development of economic elements, negative impact on the reproduction process, a marked lag in adapting to changes in financial and external commodity markets and a slow pace of development. The financial system of the Russian Federation is economic relations, which are grouped together according to a certain feature. Such a relationship affects almost all aspects of modern human life. These relations can arise between individuals, several legal entities, and also various states. Thus, one of the spheres of economic interactions is represented by the following elements: the family budget, the finances of personal and households. Simply put - the capital of the population.

Detailed Information

The concept of the financial system of the Russian Federation is viewed as the totality of economic relations. In its structure, separate spheres and links are distinguished. At any level of management, finance is an element of social production, without which the existence and functioning of the system is simply not feasible. Also without them it is not possible:

1) the early introduction of new achievements in science and technology;

2) maintenance of an expanded circulation of production funds (both public and individual);

3) regulation of territorial and sectoral economic structures;

4) satisfaction of other needs of the population.

Certain types of needs are the state and business entities. This explains the appearance of various types of relations, which includes the financial system of Russia. Now some experts in this field do not recognize the interaction of two individuals as an economic relationship. Nevertheless, there are various publications that highlight the organization of the financial system. The literature is devoted to family and personal expenditure-income plans, household assets.

Composition and structural elements

The financial system of Russia consists of several interrelated bodies and institutions. The main goal of the economy is to satisfy a great variety of social needs. The interaction of finance covers the whole system of the country and the sphere of social activity. The generality of these phenomena explains the existence of special institutions within the financial structure. Based on all of the above, we can distinguish several concepts of the economy of the Russian Federation. The financial system of the country is:

1. A set of different institutions, each of which participates in the formation and subsequent use of the corresponding monetary funds.

2. The community of special institutions and bodies that carry out financial activities within their competence.

The economy is formed from the interconnection of various institutions that are responsible for regulating the creation, redistribution and use of monetary funds. Features of the country's development in the period of transition to market conditions strongly affect the financial system. Thus, the economic structure of Russia includes the following monetary funds and legal institutions, corresponding to them:

1. Budget system of the country. It includes budgets of local self-government bodies, constituent entities of the Federation and directly Federal.

2. The stock market.

3. The state credit.

4. Extrabudgetary funds of the country.

5. Finances of economic entities.

6. Insurance funds.

General state finances. Concept, structure and purpose

The basis of national finance is the various budgets of the respective levels. This group also includes such concepts as public lending and social extra-budgetary funds of the country. In the regulation of various economic transactions and macro-level distributive relations, the main role belongs precisely to this type of finance. Their formation and distribution are centralized. This element of the system is at the disposal of local governments and the state itself. At the micro level, the financial elements of enterprises, insurance and the credit and banking system are responsible for settling economic transactions. Nevertheless, one can not assume that these links of the economy are related only at the level of economic entities in their broad understanding. This is due to the existence of a dense relationship between all the constituent parts of the financial system. The state influences the formation of centralized and decentralized resources through the economy. Various statutory acts and relevant laws are used to implement such activities. Also, its instruments are pricing mechanisms, credit system, taxes and much more. Russia's state finances are inextricably linked with the rest of the economy. However, there is some kind of duality here. GDP is the main source of replenishment of budget revenues at all levels. It is formed in the sphere of material production. Then, through taxation, the RF budget and social funds are created. At the same time, the process of expanded reproduction is carried out by enterprises not only at their own expense. They use state credit or direct banknotes from the budget.

The role of borrowed funds

The company's own finances are inextricably linked to the credit system. In case of lack of funds, you can use the services of banks. Most often, borrowed capital is involved in the replenishment of the negotiable. Also, to solve their economic problems, enterprises can resort to the means of other economic entities. For example, to such as various organizations, banks, insurance companies and others. Such activities can be carried out in different ways. For example, in order to increase own capital, resort to the help of corporatization. In turn, the issue of promissory notes and bonds is carried out for the implementation of loans. In the end, the interconnection of various elements of the financial system is due to their single essence. The state plays an important role in the development of society, both economically and socially. For this reason, most of the money resources are concentrated at his disposal. It carries out their use through the RF budget, state credit and various funds. Assets of different banking structures and insurance are formed by attracting free capital. Own funds of commercial organizations are their savings.

Characteristics of the financial system of. Features

Management of the economy and finances of the state is carried out with the help of an important tool - a multi-level structure. At all levels of this configuration, a key task is being solved nationwide: the formation and expenditure of a general fund of funds. The whole structure includes the local, regional and federal budgets. In the current globalization of economic activity, the assets of each country become the basis of its economic security. From their size and properties depends:

- carrying out social programs;

- maintenance and functioning of the defense system;

- providing management bodies of all levels;

- Development of knowledge-based and strategically important industries;

- Support for the economy and its subjects within the state, and much more.

The country's financial system consists of many elements. Some of them are financed under the adopted expenditure and income plan, others are not. For example, to implement programs that are socially or medically oriented, extra-budgetary funds are being created. The state, as a participant in the internal market system, can act as a borrower of money from other market participants. Creditors in this case will be legal entities and individuals who have free monetary assets at their disposal. The need for loans comes when there is a deficit in the budget. Lending is also used for short-term infusion of money into certain sectors of the economy in order to maintain the financial stability of the country. In the case when the state resorts to a loan from outside organizations or individuals, a national debt arises. By its characteristics, it is divided into two types: internal and external (depending on the place of registration of the lender). In their form, debt obligations taken by the state can be presented in the form of:

- loans;

- state loans conducted using the securities issue;

- Other debts.

Changes made after the collapse of the USSR

The development of the financial system of the Russian Federation has been noticeably suspended in recent years. In some sectors of the state economy there is an increase in indicators, but most industries are experiencing a period of stagnation and a slight increase. The banking system managed to restore its functionality almost completely after the 1998 crisis . The sphere of crediting is actively developing, thereby exerting a significant influence on the economic situation in the country. At the same time, the share of loans issued to the private sector is constantly increasing, which indicates that the welfare of the population as a whole is improving. In the last decade, stock indices have risen, international ratings of Russia's financial stability have improved. Nevertheless, the share of attracted foreign capital in the country's financial system, compared with the economies of developed countries (Germany, USA, France) remains relatively low. However, the stable growth of indices and ratings creates a favorable environment for foreign and domestic investors. In recent years, there has been a positive trend in the growth of financial resources and a fall in interest rates on loans. Prerequisites for the emergence of these phenomena should be considered an increase in foreign trade, the growth of sales of raw materials in foreign currencies, as well as the overall foreign economic policy of the state. The availability of cash as a result of the lowering of credit rates favorably affected the work of the country's largest enterprises, which, by increasing financial activity, stimulated economic growth. The modern financial system of the Russian Federation after a series of reforms began to fulfill its main task - ensuring the growth of the country's economy.

Reforms in this area

The management of the financial system in Russia has not been subject to significant changes for a long time. In 2006, the legislation undergoes radical reforms. They touched, first of all, the formation and expenditure of the budget of the Russian Federation. New structural units have appeared. In particular, the budgets of individual municipalities and urban settlements were formed. In the future, the legislative base of these projects has undergone significant processing. One of the main risks to the financial system of the Russian Federation is the overdue debt on credit bank liabilities. The size of this aggregate debt is constantly growing, which has a negative impact on various sectors of the economy. In turn, banks need a constant inflow of money to extend credit obligations. According to economists, the share of such debts can grow up to 10% of the total structure of the loan portfolio, which will negatively affect the entire economic structure. The Government of the Russian Federation is looking for ways to solve this problem. It is proposed to increase the capitalization of the largest banks at the expense of government bonds. Also considered are options to increase the insurance part of the deposit and withdraw licenses for financial activities from a number of "unreliable" financial institutions.

The origins of modern problems

A number of the largest domestic economists believe that the reason for the weakness of the financial system of the Russian Federation is the inability to quickly adapt to the dynamically changing market conditions, as well as too much raw material dependence and lack of competition in some segments. The government, introducing new economic reforms, is trying to equalize the difficult situation of the monetary sphere. There are regular capital injections from the Reserve Fund, which, in turn, was formed at the time of the budget surplus (before 2008). At the same time, most experts agree that its funds are not unlimited and they will last only a few years. Modern Russia is going through a complex process of shaping its economic structure. Many of the negative factors that accompany this action, for example, debts on credit obligations, are difficult to analyze and control in this situation. In such conditions, it is rather difficult to establish one of the main functions of a stable market: the redistribution of financial (resource) flows within it.

Conclusion

The economy, which is based on the system of bank financing, has ample opportunities to react quickly to any changes. The central bank is the ultimate participant in this credit structure. In this regard, the development of the financial system in Russia is expected to begin with the allocation of the banking sector, in which the main redistribution of resource flows will occur. For this it is necessary to have a stable structure, excluding from it all the weak participants. At the same time, it is necessary to develop in parallel the financial markets of the Russian Federation, which, with the exception of foreign exchange, are at the initial stage of origin. Only in these conditions it is possible to create a sound economic base. The main task of the redistribution of financial resources within the country will be assigned to it in the future.

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