Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/325489 
Authors: 
Year of Publication: 
2025
Series/Report no.: 
BOFIT Policy Brief No. 13/2025
Publisher: 
Bank of Finland, Bank of Finland Institute for Emerging Economies (BOFIT), Helsinki
Abstract: 
This paper provides an overview of the major changes in Russia's macroeconomic policies since the early 1990s. For decades, the quest for economic stability and security have been leading principles of Russian macroeconomic policies. To understand the genesis of these macroeconomic policy choices the paper first provides a chronology of macroeconomic policies from the early 1990's to the aftermath of the global pandemic thirty years later. The second part describes how since the fullscale invasion on Ukraine, Western economic sanctions and the emerging war economy have fundamentally changed Russia's policy choices in fiscal and monetary policies as well as in Russia's trade relations.
Subjects: 
Russia
fiscal policy
monetary policy
JEL: 
O10
P20
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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