The Stabilization Fund of Russia

Any economy needs insurance in the form of safety margin. To such a safety margin is the stabilization fund of Russia, which became a continuation of the development budget, laid in 1998 and finally formed by 2004.

The main point of the state budget revenues today is the export of energy resources, which puts the Russian economy in a significant dependence on world oil prices. The source of the main Russian income is not eternal, which means it works in a time interval. In addition, most of the economic countries are engaged in the development of energy saving programs. Yes, and Russia should reduce its dependence on general price jumps on energy resources.

The idea of budget development (1998) was based on the need to finance the state's largest and most significant facilities of the country, which could become a kind of "locomotives" in the coming crisis.

The new filing of the stabilization fund was, at first, the opposite of the "development budget". Initially, it was supposed to create insurance reserves to finance the budget with falling prices for "black gold" (oil), which would facilitate the control of possible inflation, as it was planned to invest super profits in the largest foreign assets. In addition, the stabilization fund of the Russian Federation would solve the problem of financing in the system of state pensions. The idea of creating the fund was supported by almost everyone: the practice of the functioning of similar funds in other countries has already proved its worth.

From 1 February 2008, the stabilization fund created is divided into: the Reserve Fund (about 3.7 billion rubles) and the National (National Welfare (about 783 billion rubles). The total amount of profit tied to GDP grew by about 1% per year , And since 2010 fixed at around 3.7%.

Control and management of the fund's resources rests with the Ministry of Finance of the Russian Federation. The order of management is determined by the Government of the country. Part of the authority for management is given to the Central Bank of Russia (in accordance with the agreement with the Government of the Russian Federation).

The stabilization fund, according to its intended purpose, can be partially placed in the debt obligations of other states, the list of which has been approved by the Government of Russia. The management of funds can be carried out in several directions, both separately taken and simultaneous. Main directions:

• Acquisition of promissory notes of other states;
• Acquisition of foreign currencies (with its placement on accounts, with interest payments).

It would seem that the creation of a fund is a profitable and unambiguously profitable business, and the profit is huge and fast. Then why does the mechanism for managing this fund cause so much attention not only to sociologists, lawyers, financiers, economists and political scientists, but also to the general public as a whole? The answer lies in the essential discrepancies between the presented theory and the practice of functioning. Undoubtedly the positive positioning of the fund on the one hand and the negative factors on the other, in particular:

• Organizational problems;
• Questionable expediency from the economic point of view;
• Inefficiency in legal support;
• Dissatisfaction of taxpayers;
• Psychoemotional tension of the whole society as a whole.

The topic is relevant and has become a nation-wide character. Four years ago, a poll was conducted by the All-Russian Public Opinion Research Center (the Center for the Study of Society's Opinion), as a result of which it was found out: 90% of Russians are in favor of "reopening" of the stabilization fund, 5% of the remaining ones believe that the fund can not be spent, about 5% of respondents doubt the need for such actions. Of these 90% of respondents, 32% are offered to give money for the development of health care, 28% - for an increase in pensions, 26% for increases in salaries for state employees, 19% for education, and 3% for social payments (orphans and invalids).

The mood of citizens is clear. Here you can not disagree with the populist and odious statement of S. Glazyev: "The policy of the Government is immoral and absurd.When a miserable salary, with a catastrophic underfunding of health care and education, the corruption of the law enforcement system, the freezing of hundreds of billions of rubles is unacceptable."

The fund's cash flows for today remain a mystery behind a multitude of seals. To trace, where, as well as by whose orders the means of the budget are moving, today a simple citizen of Russia is impossible, since the information remains unavailable.