Analysis of international financial and economic relations of Russia with the benchmark countries

Abstract

Subject — International financial and economic relations of Russia. The purpose of the work — determine the possibilities of maintaining a significant position of Russia in international financial and economic relations with benchmark countries. The methodology of work. The study is based on a systematic approach using the method of statistical, neural network and cluster analysis. The results of the work. The results of the analysis of the international financial and economic relations of Russia with the benchmark countries reflect the importance of the indicators: "GDP, in current prices (US dollars and at PPP, US dollars)", "Total government expenditures (% of GDP)" and "The volume of imports of goods (change in%)". For the preservation and monitoring of international financial and economic relations between Russia and the benchmark countries, common indicators are: "General government revenues (national currency)" — India; «GDP, in current prices (US dollars)» — China. To maintain these ties, Russia needs to adjust its relations with benchmark countries according to the indicators "Population" and "Inflation, consumer prices at the end of the period (index)". The Bank of Russia’s desire to target inflation, fixes the indicators "Population" and "Infl ation, consumer prices at the end of the period (index)" Government net lending, borrowing (% of GDP, local currency), and growth rate of domestic government debt. The scope of the results. The provisions of the study expand the scope of knowledge and develop the competencies of members of the government of the Russian Federation to assess opportunities for economic growth and choose a way of development. Conclusions. The possibilities of maintaining a significant position of Russia in international financial and economic relations with benchmark countries are linked with India in terms of total government revenues in national currency and China in terms of GDP in current prices in US dollars. The Bank of Russia is able to maintain this position and maintain target inflation.