Strategic Directions of the Country's Ensuring Financial Security

O.B. Ivanova, T.F. Romanova, E.D. Kostoglodova, D.G. Romanov
European Research Studies Journal, Volume XX, Issue 3B, 461-468, 2017
EOI: 10.11214/thalassinos.20.05.042

Abstract:

It is grounded in the article that it is necessary to form a new fiscal policy paradigm and it is preconditioned by its orientation to provide economic growth and country's national security.The change of the geopolitical situation, slow down of the global growth pace, decrease of the global demand on the traditional commodities require to work out the interconnected set of measures, based on the creation of conditions for the Russian economy to transit to a new technological structure, for Russia to be among the leading countries in terms of gross domestic product and to oppose the impact of external and internal threats successfully.The objective of this work is to research the strategic directions of the Russian financial security aimed at analysis and indicative forecasting of a wide range of factors determining the financial and banking system stability, preserving its integrity and unity, overcoming Russia's internal and external threats in the financial sphere. To meet this objective the following tasks are set: to reveal the fundamentals and economic content of financial security; to structure the most important aspects of the financial security strategy; to identify specific features of budgetary security as a key component of financial security and determine fiscal consolidation priorities; to disclose methodological approaches to the formation of a financial security indicators system.The article draws conclusions about the need for an integrated approach to the financial security strategy formation that stimulates economic growth, improves the quality of public administration, the banking and financial system stability, human potential development.


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