BUDGET RULE AND TAX MANEUVER IN THE DESTRUCTIVE LIBERALIST CONCEPT OF THE BUDGET THREE-YEAR PLAN — 2021–2023

Abstract

The article reveals the conceptual defects of the designed and currently law-supported budget three-year plan — 2021–2023. Among them, the author includes the authorities’ desire to continue using a rigid budget rule and the implementation of tax maneuvers. The author argues that there is a direct link between the effects of the budget rule and deceleration of the GDP growth in Russia. Overcoming the country-specific recession and the problem of excessive focus of the Russian economy on natural resource extraction should arguably be driven by an increased share of the government spending on its diversification, which requires a substantial relaxation or cancelling of the budget rule. The author concludes that the tax maneuver presents a barrier to curing the «Dutch disease» of the country’s economy and therefore requires serious corrections while preserving excise duties on oil and gas exports and to the contrary, reducing the natural resource extraction tax rates.