Transformation of the Financial Model of Economic Development in the Context of a Global Pandemic

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Giorgi Kutsuri
Financial University under the Government of the Russian Federation
Anna Maruashvili
New Higher Education Institute

Abstract

The problem of fi nding sources of funding for measures to overcome the pandemic and the subsequent economic recession associated with the spread of COVID-19 coronavirus infection affected the entire world. Therefore, it is relevant and important to study the fi nancial capabilities of Russia in solving this problem.


The article analyzes the scenarios of economic recession and possible fi nancial sources, mainly the national welfare Fund, in order to prevent a pessimistic development scenario. Some financial instruments are proposed to reduce the current pressure on the budget and it is more appropriate to use the funds of the national welfare Fund.

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Keywords:
National Welfare Fund, Global Economic Recession, Budget Expenditures on the Economy, Support for Small and Medium-sized Businesses, Russian Economic Recession, Government Borrowing, Budget Expenditures
Published: Oct 20, 2020

Article Details

Issue
Vol. 7 No. 1-2 (2020)
Section
COVID-19 - Economic, Legal and Political Challanges
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