State Financial Policy of Russia: Features of Development and Implementation in New Geopolitical Conditions

The article focuses on the issues of managing Russia’s economic and financial relations in the conditions of a multipolar world formation. The toolkit of economic management in the field of finance is presented. Domestic and foreign scientific sources are analysed in a retrospective manner. Methods of state economic and financial regulation in the dynamics of their development over the period after the global economic crisis of 2008–2009 till now have been considered. As a result, features of the ongoing state financial policy since the beginning of the 2010s and its modernization in the early 2020s are identified; the economic and financial instruments used in practice are summarized and budgetary, tax and customs-tariff innovations to stimulate economic growth and integration processes in the national economic system of the country are presented. Furthermore, the need to monitor the current situation and promptly respond to its peculiarities when choosing priority means of regulation is justified. The key role of budget planning in the functioning of the financial sector of the state has been established; the expediency of coordination by all participants of economic relations of the actions taken in the process of tactical and strategic financial management has been confirmed. The need for the timely mobilization of all available resources and the coordinated application of budgetary, tax and customs-tariff instruments in times of crisis and increased macroeconomic instability has been proven. As recommendations possible vectors for developing state financial regulation in the economic space of Russia have been determined. Conclusions about the expediency of activating the financial policy of Russia in the new geopolitical reality, a larger-scale selective use of financial regulation methods to ensure the stable functioning of the country’s national economy are made.

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