Государственный долг: новые риски в условиях кризиса COVID-19. Часть 1

Abstract

The crisis associated with the COVID-19 pandemic has led to unprecedented fiscal interventions in all affected countries, including Russia. The sharp increase in unplanned budget spending in the context of the collapse of tax and export revenues created the threat of destabilization of public finances and of deployment of a debt spiral. The article presents the expert opinions on the economic impact of the growth of such debt and on the threshold value of debt relative to GDP, as well as on strategies that can prevent a debt crisis. Discusses the forecasts of the growth of budgetary expenditures and public debt, as well as the fiscal incentives applied in different countries.