DOI: 10.33917/mic-5.118.2024.26-40

The machine tool industry, microelectronics and the aviation industry are among the critically important sectors of the economy of any industrialized state, as they determine the technological sovereignty of industry and ensure the technological security of the country, as well as set the direction of innovative development. These industries have been the target of sanctions imposed by Western countries on Russia against the background of the Ukrainian crisis. «Unfriendly» states have imposed a ban on the supply of machine tools and components to the Russian Federation; microcircuits and other microelectronics; aircraft and their spare parts (including engines), in addition, leasing agreements with Russian airlines were terminated and aircraft maintenance was discontinued. In this regard, the industries in question faced serious challenges – to find a replacement for Western supplies as soon as possible and to mobilize their own production facilities. Even though the problem of dependence of the machine-tool, microelectronic and aviation industries on foreign supplies has been discussed for about 10 years (since the «Crimean» sanctions), no significant results have been achieved in terms of reducing import dependence. There was no collapse due to the restrictions imposed in these industries, but several difficulties arose, which require government support to solve.

References:

1. Analysis of the processor and controller market in Russia in 2018–2022, forecast for 2023–2027 under sanctions. BusinessStat. 2023. URL: https://businesstat.ru/news/processors_and_controllers/

2. Afanasyev A. The market for Russian machine tool products under external restrictions. Economy, entrepreneurship and law. 2023;13(10):4073–4088.

3. Butov A. The market for civil aircraft products. HSE Development Center. 2018. URL: https://dcenter.hse.ru/data/2018/11/19/1141804200/

4. State support for microelectronics in 2024 will amount to 210 billion rubles. Interfax. 2023. URL: https://www.interfax.ru/russia/925028

5. Kapoguzov E. Import dependence of the Russian civil aviation industry. Bulletin of Tomsk State University. Economics. 2022;58:58–76.

6. Comprehensive program for the development of the air transport industry of the Russian Federation until 2030. URL: http://static.government.ru/media/files/

7. Kostyuchenko S. The role of machine tool building in the modern economy and its impact on various industries and production processes. Economy and Society: Modern Development Models, 2023;13(3):177–194.

8. Microelectronics of Russia: from deficit to technological independence. Yakov and partners. 2023. URL: https://yakov.partners/upload/iblock/f25/

9. The current state of the Russian machine tool industry: problems and prospects. Rhythm of mechanical engineering. URL: https://ritm-magazine.com/ru/public/nastoyashchee-sostoyanie-rossiyskogo-stankostroeniya-problemy-i-perspektivy

10. Russia increased the production of civilian helicopters by 70% in 2022. Vedomosti. 2023. URL: https://www.vedomosti.ru/business/articles/2023/02/20/963574-rossiya-uvelichila-vipusk-grazhdanskih-vertoletov

DOI: 10.33917/es-4.196.2024.82-89

The reform of development institutions currently being carried out by the Government of the Russian Federation provides for their partial modernization and liquidation. At the same time, some institutions, in particular state-owned corporations, are not subject to reform due to the fact that their activities are strategically important and fully consistent with the goals of the country’s economic development. According to the authors of the article, the Rostec state-owned corporation today has positive experience in achieving the goals set by the state. The directions and results of Rostec’s activities during the sanctions period, industry and financial indicators, the execution of the state defense order and the share of civilian products, development directions in various sectors of the economy and innovative developments to ensure competitiveness in domestic and foreign markets are studied.

References:

1. Instituty razvitiya s”eli 5 trillionov rubley. Deputaty obvinili kvazigosudarstvennye struktury v neeffektivnosti [Development institutes ate 5 trillion rubles. Deputiesaccusedquasi-statestructuresofinefficiency]. Nezavisimayagazeta, 2019,10 oktyabrya, availableat:https://www.ng.ru/economics/2019-10-10/4_7699institute.html

2. Vladimir Kuz’min. Mishustin soobshchil ob optimizatsii institutov razvitiya [Mishustin announced the optimization of development institutions]. Rossiyskaya gazeta, 2020, 23 noyabrya, available at: https://rg.ru/2020/11/23/pravitelstvo-optimiziruet-sistemu-institutov-razvitiia.html

3. Postanovlenie Pravitel’stva RF ot 24 marta 2022 g. N 459 “O priznanii utrativshimi silu nekotorykh aktov Pravitel’stva Rossiyskoy Federatsii i o vnesenii izmeneniy v rasporyazhenie Pravitel’stva Rossiyskoy Federatsii ot 31 dekabrya 2020 g. N 3710-r” [Resolution of the Government of the Russian Federation of March 24, 2022 No. 459 “On recognizing as invalid certain acts of the Government of the Russian Federation and on amending the order of the Government of the Russian Federation of December 31, 2020 No. 3710-r”]. Konsul’tantPlyus, available at: https://www.consultant.ru/document/cons_doc_LAW_413819/9 2d969e26a4326c5d02fa79b8f9cf4994ee5633b/#dst100006

4. Pribyl’ goskompaniy v Rossii upala sil’nee, chem u chastnykh. Tol’ko dve treti iz nikh zavershili 2022 god v plyuse [Profits of state-owned companies in Russia fell more than those of private ones. Only two-thirds of them ended 2022 in the black]. RBK, 2023, 10 maya, available at: https://www.rbc.ru/econo mics/10/05/2023/64525cc39a794734f6f7044d

5. Federal’nyy zakon ot 12 yanvarya 1996 g. N 7-FZ “O nekommercheskikh organizatsiyakh” [Federal Law of January 12, 1996 No. 7-FZ “On Non-Commercial Organizations”]. Konsul’tantPlyus, available at: https://www.consultant.ru/document/cons_doc_LAW_8824/

6. Mazanaev M.Sh., Bekishiev N.A. Pravovoy status i osobennosti gosudarstvennykh korporatsiy v sovremennoy Rossii [Legal status and features of state corporations in modern Russia]. Yuridicheskiy vestnik DGU, 2022, vol. 44, no 4, pp. 83–90, DOI: 10.21779/2224-0241-2022-44-4-83-90

DOI: 10.33917/es-4.196.2024.30-37

The article dwells on the effectiveness of cryptocurrency technologies for international payments. Insufficiency of cryptocurrency resources for solving this problem under sanctions is shown. The author proposes a way to solve the problem by creating an international financial system based on a digital golden gram (abbreviated in English: DiGGram or digram) — a stealth cryptocurrency with an anonymous group stable and a zero-knowledge algorithm. It will be impossible for unfriendly states to track transactions of such currency. Emission of digram will not require mining or electricity consumption. Taxation of foreign trade transactions with digram should be carried out in the same way as taxation of transactions with other currencies. The article proposes an original information technology for the forced unlocking of blocked Eurodollar financial assets and converting them into resources to support the emission of a gold gram for forming financial assets of countries participating in the financial system based on a digital gold gram. The proposed measures will make it possible to unite up to 30 countries subject to sanctions into a new international financial system and create financial resources in the amount of up to 0 billion, of which up to 0 billion can be used to service international payments of the Russian Federation.

References:

1. V TsB prizvali “probovat’ vse” dlya resheniya problemy perevodov za rubezh [The Central Bank urged to “Try Everything” to Solve the Problem of Transfers Abroad]. RBK, Finansy, 2024, 26 iyunya, available at: https://www.rbc.ru/finances/26/06/2024/667c04189a79474a3d678ec2

2. Summarnaya kapitalizatsiya kriptovalyut dostigla 2,4 trln dollarov [Total Capitalization of Cryptocurrencies has Achieved .4 Trillion]. Blockchair, available at: https://blockchair.com/ru/news/summarnaa-kapitalizacia-kriptovalut-dostigla-24-trln-dollarov–d28ebf3e52

3. Kitay, Indiya i Turtsiya stali glavnymi torgovymi partnerami Rossii v 2023 godu [China, India and Türkiye have become Russia’s Main Trading Partners in 2023]. Izvestiya, 2024, 8 aprelya, available at: https://iz.ru/1678604/2024-04-08/kitai-indiia-i-turtciia-stali-glavnymi-torgovymi-partneramirossii-v-2023-godu

4. Valyuta, osnovannaya na odnom gramme zolota [Currency Based on one Gram of Gold]. Dzen. 2023. 10 iyulya. URL: https://dzen.ru/a/ ZKxbgrfr_3KEBIFV

5. Kogda poyavitsya novaya valyuta BRIKS i kak ona povliyaet na rubl’ [When the New BRICS Currency will Appear and How it will Impact the Rouble]. T–Zh. 2024. 18 aprelya. URL: https://journal.tinkoff.ru/news/brics-currency/

6. Yuliya Abdulbarova. Top-7 stran pod sanktsiyami: kak zhivut gosudarstva pod sanktsionnymi ogranicheniyami? [Top 7 Countries under Sanctions: How do States Live under Sanctions?]. LinDEAL. URL: https://lindeal.com/trends/top-7-stran-pod-sankciyami-kak-zhivut-gosudarstva-pod-sankcionnymi-ogranicheniyami

7. Zamorozka aktivov. Traditsii i novye printsipy raboty Zapada s rezervami tret’ikh stran [Asset Freezing. Traditions and New Principles of the West’s Work with Reserves of Third Countries]. Dzen, 2023, 27 dekabrya, available at: https://dzen.ru/a/ZYvtfjnG4kyLlH9F

DOI: 10.33917/es-4.196.2024.18-25

Despite improving economic indicators and revisions towards better forecasts for 2024, systemic threats and risks, which are not always obvious, remain in the global economy. In the article, the author draws attention to a number of new problems and circumstances that are changing financial landscape in the world. In particular, attention is paid to expanding approaches of central banks in new conditions, risks arising from the technological advancement of commercial banks, which requires more careful control to prevent a destabilizing effect on the financial sector as a whole, etc.

References:

1. BIS. Annual Economic Report. Basel, June, 2023, available at: https://www.bis.org/publ/arpdf/ar2023e.htm

2. UN. World Economic Situation and Prospects. May 2024, available at: https://www.un.org/development/desa/dpad/publication/world-economic-situationand-prospects-as-of-mid-2024/

3. Bank JP Morgan otkroet bolee 500 novykh otdeleniy v blizhayshie tri goda [JP Morgan will Open More than 500 New Branches in the Next Three Years]. Kommersant. 2024. 6 fevralya. URL: https://www.kommersant.ru/doc/6494367

4. China’s central bank hints it may add treasury bond trades to policy toolkit. Reuters. April 23, 2024, available at: https://www.reuters.com/world/china/ chinas-central-bank-hints-it-may-add-treasury-bond-trades-policy-toolkit-2024-04-23/

5. UN. World Economic Situation and Prospects. January 2024. UN, available at: https://www.un.org/development/desa/dpad/publication/world-economicsituation-and-prospects-2024/

6. Roskongress. Zamorozka aktivov. Traditsii i novye printsipy raboty Zapada s aktivami tret’ikh stran [Росконгресс. Roscongress. Freeze of Assets. Traditions and New Principles of Western Work with Assets of Third Countries]. Roskongress, 2023, Dekabr’ available at: https://roscongress.org/materials/ zamorozka-aktivov-samoupravstvo-ili-zakonnyy-shag/

DOI: 10.33917/es-3.195.2024.120-125

The article dwells on the change in the market index of “Economic Strategies” (MIES) for the first quarter of 2024. The contribution of demand and supply indicators to the KIES is assessed. Analysis of industrial production is carried out.

References:

1. Sotsial’no-ekonomicheskoe polozhenie Rossii. Yanvar’ — mart 2024 god: Doklad [Socio-Economic Situation in Russia. January – March 2024: Report]. Federal’naya sluzhba gosudarstvennoy statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-03-2024.pdf

2. Stsenarnye usloviya funktsionirovaniya ekonomiki Rossiyskoy Federatsii, osnovnye parametry prognoza sotsial’no-ekonomicheskogo razvitiya Rossiyskoy Federatsii i prognoziruemye izmeneniya tsen (tarifov) na tovary, uslugi khozyaystvuyushchikh sub”ektov, osushchestvlyayushchikh reguliruemye vidy deyatel’nosti v infrastrukturnom sektore, na 2025 god i na planovyy period 2026 i 2027 godov [Scenario Conditions for Functioning of the Economy of the Russian Federation, the Main Parameters of the Forecast of Socio-Economic Development of the Russian Federation and Projected Changes in Prices (Tariffs) for Goods and Services of Business Entities Carrying out Regulated Activities in the Infrastructure Sector for 2025 and for the Planning Period of 2026 and 2027]. Ministerstvo ekonomicheskogo razvitiya RF, available at: https://economy.gov.ru/material/directions/makroec/prognozy_socialno_ekonomicheskogo_razvitiya/scenarnye_usloviya_funkcionirovaniya_ekonomiki_rf_osnovnye_parametry_prognoza_socialno_ekonomicheskogo_razvitiya_rf_na_2025_god_i_na_planovyy_period_2026_i_2027_godovhtml

3. Poslanie Prezidenta Rossiyskoy Federatsii Federal’nomu sobraniyu Rossiyskoy Federatsii 29 fevralya 2024 goda [Address of the President of the Russian Federation to the Federal Assembly of the Russian Federation on February 29, 2024]. Ofitsial’nyy sayt Prezidenta RF, available at: http://kremlin.ru/events/president/news/73585

4. Ukaz Prezidenta Rossiyskoy Federatsii ot 7 maya 2024 g. “O natsional’nykh tselyakh razvitiya Rossiyskoy Federatsii na period do 2030 goda i na perspektivu do 2036 goda” [Decree of the President of the Russian Federation of May 7, 2024 “On the National Development Goals of the Russian Federation for the Period until 2030 and for the Future up to 2036”]. Ofitsial’nyy sayt Prezidenta RF, available at: http://kremlin.ru/events/president/news/73986

5. Frenkel’ A.A., Tikhomirov B.I., Surkov A.A. 2023 god: ukreplenie gosudarstvennogo suvereniteta i ustoychivosti strategicheskogo razvitiya Rossii v usloviyakh turbulentnosti [2023: Strengthening the State Sovereignty and Sustainability of Russia’s Strategic Development in Conditions of Turbulence].

Ekonomicheskie strategii, 2024, no 1(193), pp. 70–75, DOI: https://doi.org/10.33917/es-1.193.2024.70-75

DOI: 10.33917/es-3.195.2024.16-27

Chronicles of the trade and economic war (sanctions, restrictions, etc., in fact, attempts to organize an economic, scientific and technical blockade) of the conventionally united West against Russia after 2014 in general and after the beginning of the Limited Military Operation in particular clearly demonstrate that Atlantic opponents didn’t manage to defeat us economically. They don’t understand why that happened… Russia, to the whole world’s surprise, is successfully realizing its economic potential, monetizing it into stability of the political regime and building up a victorious defence potential. What’s the cause of such macroeconomic stability (national strength) of Russia?

References:

1. Isard W. Interregional and Regional Input-Output Analysis: A Model of a Space Economy. Review of Economics and Statistics, 1951, vol. 33, pp. 318–328.

2. Leontief W., Strout A. Multiregional Input-Output Analysis. Structural Interdependence and Economic Development (ed. T. Barna). London, Macmillan (St. Martin’s Press), 1963, pp. 119–149.

3. Koopman R., Wang Z., Wei Shang-Jin. Tracing Value-Added and Double Counting in Gross Exports. NBER Working Paper no 18579, Cambridge, National Bureau of Economic Research, 2012.

4. Makarov V.L., Bakhtizin A.R., Sushko E.D. Natsional’naya strategicheskaya sila stran, mezhdunarodnaya torgovlya i ekonomicheskaya uspeshnost’ stran v nestabil’nom mire [National Strategic Power of Countries, International Trade and Economic Success of Countries in the unstable World]. Strategirovanie: teoriya i praktika, 2023, vol. 3, no 3(9), pp. 277–297.

5. Ageev A.I., Bakhtizin A.R., Makarov V.L., Loginov E.L., Khabriev B.R. Ekonomicheskiy fundament pobedy: strategicheskiy prognoz ustoychivosti ekonomiki Rossii v

usloviyakh sanktsionnykh atak [Economic Foundation of Victory: a Strategic Forecast for the Russian Economy Stability in the Face of Sanctions]. Ekonomicheskie strategii,

2023, vol. 25, no 3(189), pp. 6–15, DOI: https://doi.org/10.33917/es-3.189.2023.6-15

6. Makarov V.L., Il’in N.I., Bakhtizin A.R., Khabriev B.R. Natsional’naya sila stran mira: otsenka i prognoz [National Strength of the Countries in the World: Evaluation and Forecast]. Ekonomicheskie strategii, 2022, vol. 24, no 6(186), pp. 38–51, DOI: https://doi.org/10.33917/es-6.186.2022.38-51

7. Makarov V.L., Bakhtizin A.R., Loginov E.L. Primenenie ekonomiko-matematicheskikh metodov i modeley optimal’nogo planirovaniya v tsifrovoy ekonomike budushchego (TsEMI AN SSSR i TsEMI RAN: prognosticheskaya interpretatsiya i razvitie nauchnogo naslediya nobelevskikh laureatov L.V. Kantorovicha i V.V. Leont’eva) [Application of Economic-mathematical Methods and Optimal Planning Models in the Digital Economy of the Future (CEMI AS USSR and CEMI RAS: Predictive

Interpretation and Development of the Scientific Heritage of Nobel Laureates L.V. Kantorovich and V.V. Leontief)]. Moscow, Tsentral’nyy ekonomiko-matematicheskiy

DOI: 10.33917/es-1.193.2024.70-75

The article dwells on the changes in the Market Index of “Economic Strategies” (MIES) for eleven months of 2023.

Contribution of demand and supply indicators to MIES is assessed. Analysis of industrial production is carried out.

References:

1. Itogi goda s Vladimirom Putinym: pryamaya liniya s grazhdanami i bol’shaya press-konferentsiya s predstavitelyami SMI 14 dekabrya 2023 goda [Results of the Year with Vladimir Putin: Direct Line with Citizens and a Large Press Conference with Media Representatives on December 14, 2023]. Ofitsial’nyy sayt Prezidenta RF, available at: http://kremlin.ru/events/president/news/7299

2. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare — noyabre 2023 goda: Doklad [Socio-economic Situation in Russia in January — November 2023: Report]. Federal’naya sluzhba gosudarstvennoy statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-11-2023.pdf

3. Frenkel’ A.A., Tikhomirov B.I., Surkov A.A. Itogi strategicheskogo razvitiya Rossii v yanvare — aprele 2023 goda — luchshe pessimistichnykh prognozov [Outcomes of Russia’s Strategic Development in January-April 2023 are Better than Pessimistic Forecasts]. Ekonomicheskie strategii, 2023, no 4, pp. 86–91, DOI: 10.33917/es-4.190.2023.86-91

4. Obrashchenie Prezidenta RF V.V. Putina v svyazi s predsedatel’stvom RF v Ob”edinenii BRIKS [Address by the President of the Russian Federation V.V. Putin in Connection with the Russian Federation’s Chairmanship of the BRICS Association]. Ofitsial’nyy sayt Prezidenta RF, available at: http://kremlin.ru/events/president/news/73202

5. Kontseptsiya predsedatel’stva RF v Sodruzhestve Nezavisimykh Gosudarstv v 2024 godu [Concept of the Russian Federation’s Chairmanship of the Commonwealth of Independent States in 2024]. Ofitsial’nyy sayt Prezidenta RF, available at: http://kremlin.ru/events/president/news/73203

DOI: 10.33917/es-5.191.2023.64-71

Current literature propagates the firmly established opinion that sanctions impact will cause a partial degradation of produced and human capital. These losses can be compensated through the structural policy measures and formation of growth drivers.

Since the literature doesn’t provide a single definition of a growth driver, the author puts forward his own version. To implement a successful structural policy, it is necessary to correct the existing mechanism of strategic management, mainly in the field of state programs and national projects management. The development areas of mechanical engineering, IT industry and tourism are considered as growth drivers, since the mentioned areas have the greatest multiplier effect. The author concludes that tourism is the most promising area.

References:

1. Gimpel’son V.E. Chelovecheskii kapital v epokhu sanktsii i kontrsanktsii: nekotorye posledstviya ego pereraspredeleniya [Hum an Capital in the Eraof Sanctions and Counter-sanctions: Some Consequences of its Redistribution]. Zhurnal Novoi ekonomicheskoi assotsiatsii, 2022, no 3(55), pp. 234–238.

2. Prokop’ev A.V. Dolgosrochnye tendentsii ekonomicheskogo rosta v Rossii [Long-term Trends in Economic Growth in Russia]. CYBERLENINKA, available at: https://cyberleninka.ru/article/n/dolgosrochnye-tendentsii-ekonomicheskogo-rosta-v-rossii

3. Uroven’ zhizni rossiyan padaet uzhe bolee 10 let [The Standard of Living of Russians has been Falling for More than 10 years]. Dzen, 2022, 18 noyabrya, available at: https://dzen.ru/a/Y3cwaLfI3z1z_b65

4. Glava AKRA otsenil sroki vozvrata ekonomiki k dopandemiinomu urovnyu [The Head of ACRA Assessed the Time Frame for the Economy to Return to Pre-pandemic Levels]. RBK, 2022, 16 dekabrya, available at: https://www.rbc.ru/economics/16/12/2022/639b3ac49a7947630774148c

5. Rinat Tairov. Bloomberg uznal o prognoze “glubokoi retsessii” v Rossii v zakrytom otchete dlya kabmina [Bloomberg Learned about the Forecast of a “Deep Recession” in Russia in a Closed Report for the Cabinet of Ministers]. Forbes, 2022, 5 sentyabrya, available at: https://www.forbes.ru/finansy/476263-

bloomberg-uznal-o-prognoze-glubokoj-recessii-v-rossii-v-zakrytom-otcete-dla-kabmina

6. Simachev Yu., Akindinova N., Yakovlev A., et al. Strukturnye izmeneniya v rossiiskoi ekonomike i strukturnaya politika: Analiticheskii doklad [Structural Changes in the Russian Economy and Structural Policy: Analytical Repor t]. Moscow, NIU VShE, 2018, p. 29.

7. Devid Dias. Osnovnye dvizhushchie sily ekonomicheskogo rosta [What are the Main Drivers of Economic Growth]. University of Sunderland, 2022, 2 noyabrya, available at: https://online.sunderland.ac.uk/the-main-drivers-of-economic-growth

8. Ivanova L.N., Terskaya G.A. Tochki rosta i draivery rosta: k voprosu o soderzhanii ponyatii [Growth Points and Growth Drivers: on the Issue of the Content of Concepts]. Zhurnal institutsional’nykh issledovanii, 2015, vol. 7, no 2, p. 124.

DOI: 10.33917/es-4.190.2023.86-91

The author dwells on the change in the market index of “Economic Strategies” (MIES) for the first four months of 2023.

Contribution of supply and demand indicators to the MIES is assessed. Analysis of industrial production is carried out.

References:

1. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare — mae 2023 goda: Doklad [Socio-Economic Situation in Russia in January-May 2023: Report]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-05-2023.pdf.

2. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare — aprele 2022 goda: Doklad [Socio-Economic Situation in Russia in January-April 2022: Report]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-01-2023.pdf.

3. Frenkel’ A.A., Tikhomirov B.I., Surkov A.A. “Nepredskazuemye” itogi 2022 goda i potentsial’nye ugrozy strategicheskomu razvitiyu Rossii v tekushchem godu [“Unpredictable” Results of 2022 and Potential Threats to Russia’s Strategic Development in the Current Year]. Ekonomicheskie strategii, 2023, no 2(188), pp. 44–49, DOI: 10.33917/es-2.188.2023.44-49.

4. Informatsiya o plenarnom zasedanii XXVI Peterburgskogo mezhdunarodnogo ekonomicheskogo foruma 16 iyunya 2023 g. [Information on the plenary meeting of the XXVI St. Petersburg International Economic Forum on June 16, 2023]. Ofitsial’nyi sait Prezidenta R, available at: http://kremlin.ru/events/president/news/71445.ru/events/president/news/70565.

DOI: 10.33917/es-4.190.2023.60-63

First the pandemic and then geopolitical tensions in the world created new conditions and posed new challenges for the economies. Among the mechanisms, needed to finance increased government spending, many countries have begun to apply the approaches of the so-called Modern Monetary Theory. It seems that the use of its elements could also be expedient in Russia to finance the necessary transformation of the economy.

References:

1.World Bank. Global Economic Prospects. June 2023. URL: https://openknowledge.worldbank.org/server/api/core/bitstreams/6e892b75-2594-4901-a036-46d0dec1e753/content.

2. Moiseev S.R. Khaip vokrug (ne)denezhnoi (ne)teorii [Hype around (non)Monetary (non)Theory]. Voprosy ekonomiki, 2019, no 9, pp. 112–122.

3. Ershov M.V. Kak finansirovat’ novye gosraskhody: vozmozhnye mekhanizmy v usloviyakh sanktsii [How to Finance New Government Spendings: Possible Mechanisms in the Environment of Sanctions]. Ekonomicheskie strategii, 2022, no 6, pp. 26–29. DOI: 10.33917/es-6.186.2022.26-29.