01811cas a2200253 a 4500 AALejournalIMF022026 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513521893 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Russian Federation : Selected Issues. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (44 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper analyzes Russia's fiscal framework and the oil-price shock. Russia has relied heavily on its abundant natural resource wealth to finance fiscal deficits since the global financial crisis in 2008-09. The pace of adjustment of the oil-price benchmark could be increased by including future prices in its calculation. Although converting oil revenues using a backward-looking average of the exchange rate could also lead to a more rapid fiscal adjustment, it also implies additional technical and communication challenges. In addition, the fiscal anchor could be more ambitious to safeguard intergenerational equity. Expressing the fiscal rule in terms of a minimum 'structural" balance could promote greater savings. Mode of access: Internet Mexico imf IMF Staff Country Reports; Country Report ; No. 2015/212 Full text available on IMF http://elibrary.imf.org/view/journals/002/2015/212/002.2015.issue-212-en.xml IMF e-Library