The subject of the study is the tasks, principles, measures and tools, and macroeconomic consequences of the unified state monetary policy in Russia in 2025–2027, taking into account the current state of the economy and forecasts of its development in the medium term.
The purpose of the work is, based on the examination and analysis of the “Main directions of the unified state monetary policy for 2025 and the period 2026 and 2027”, approved by the Board of Directors of the Bank of Russia on October 30, 2024, to identify the features and problems of monetary policy formation and implementation in the medium term to ensure sustainable economic development of the country through increased the contribution of monetary policy to the economic development of Russia, aimed at the structural restructuring of the economy, activation of internal growth factors. The article establishes that monetary policy in the medium term will be countercyclical in nature and will not have a clear and direct goal-setting solution to the most important national economic task of ensuring balanced and sustainable economic growth. Special attention is paid to the problems of modern monetary policy principles, the effects of its transmission mechanism, and the communication policy of the Bank of Russia.
It is concluded that the “Main directions of the unified state monetary policy for 2025 and the period 2026 and 2027” deserve a positive assessment, taking into account the comments and recommendations formulated by the experts of the Financial University.

The subjects of the research are the process of reforming the Russian tax system and the impact on it of the next stage of tax transformations launched in 2025.
The objectives of the work are to analyze the progress of tax reform in the country, identify existing problems in building an effective and fair tax system, and develop and justify measures to help solve them. The results of more than twenty years of continuous transformations of the Russian tax system are analyzed. The arguments are presented, indicating that the tax reform carried out in the country for a long time was carried out without an approved concept, solving exclusively tactical tasks of the economy and social problems of society at each stage of its development. It has been established that the intended goals of the current stage of the reform — building a more equitable taxation system and increasing budget revenues — have not been fully achieved. It is shown that the decisions taken in 2024 to reform the taxation of the population are aimed at increasing the level of social justice. At the same time, in terms of taxation of small and medium-sized businesses, changes in tax conditions mainly contribute to solving the problem of replenishing the state treasury, practically without affecting the problem of ensuring social justice for the population. The analysis of the tourist tax introduced in 2025 has been carried out. It is proved that the established conditions for its calculation and payment are not effective. The author’s model of the tourist tax is proposed. Specific recommendations have been made to improve the functioning mechanisms of the elements of the Russian tax system.
It is concluded that in order for the tax reform to enter the final stage, it is necessary to stop the process of annual reshaping of the tax system, develop and adopt the conceptual foundations for building a tax system in the country.

The relevance of the article is determined by the need to revise the fundamental foundations of the global monetary system. Until recently, the idea of this system fit into the framework of mainly neoliberal theory, which operated with concepts such as “freely convertible currency”, “partially convertible currency”, etc. At the same time, there was no understanding of what exactly is the basis for determining the value of exchange rates of national monetary units in modern conditions. In fact, behind the outward appearance of supposedly independent bidding, the interests of those who, until recently, almost completely dominated the global economy were hidden.
The subject of this article is the establishment of the exchange rate within the framework of the goldstandard monetary system, as well as the specifics of its determination at the current time.
The purpose of the work is to find an answer to the question of how the exchange rate should actually be formed in the conditions of the modern monetary system.
The main research methods in the preparation of the article were the method of logical and historical unity, analysis and synthesis, deduction, organic consistency in the presentation of the material and a number of other scientific methods.
As a result of the study, it was concluded that in order to ensure the balanced development of the market (country) in the field of external market relations, as well as the predictability of the activities of direct participants in these relations, a corridor of exchange rates of national currency units of all partner countries should be established based on objective factors and finding a compromise of national interests.

The object of the study is the monetary policies of developed countries (USA, EU, Great Britain and Japan).
The subject of the study is the toolkit of monetary policies implemented by developed countries, which are changing their direction from restrictive to expansionary vectors, since the effectiveness of unconventional monetary policy measures in modern conditions is highly questionable.
The objectives of the work are to identify the reasons for the change in the directions of monetary policies of developed countries in 2024 and to analyze their impact on national financial markets, economic growth and economic activity in general. The inflationary impact of monetary economic support measures adopted in difficult times has been confirmed, which continue to have an impact on developed countries to this day. The intensification of alternative investments in difficult geopolitical conditions was noted. Based on the results of the analysis, conclusions are drawn about the need to change the direction of monetary policy in developed countries and transition to political duality.

The subject of the study is parallel import in the Russian foreign trade system.
The purpose of the work is to study the features of foreign trade operations for parallel imports in the context of sanctions pressure on Russia. The article discusses the concept, legal features and dynamics of parallel imports as a form of foreign economic activity in Russia in modern conditions. The analysis of the main problems arising in the implementation of parallel import operations is carried out, the main logistics routes and types of international settlements for parallel imports are evaluated.
It is concluded that under the pressure on the Russian financial system, the traditionally used channels of interbank settlements in reserve currencies — the US dollar and euro — have lost their reliability, so there is an urgent need to apply new international settlement mechanisms, the most promising of which may be settlements in national currencies, and in the future — settlements in national currencies. digital currencies of central banks.

The relevance of the article is due to the fact that there is currently an increasing need for an independent financial ecosystem that provides capital owners with full control over their money due to the fact that it is the development of a financial system based on modern technologies in power and financial relations.
The subject of the research is the use of financial services based on the use of blockchain and a platform approach.
The purpose of the work is to identify the problems, risks, advantages and disadvantages of decentralized finance (DeFi). The analysis of the current state of decentralized finance is carried out and the mechanisms of their functioning are investigated. It has been established that the DeFi ecosystem, which uses a multi-level structure and freely combines blocks and protocols, is implemented by decentralized autonomous organizations that ensure the interaction of participants and decision-making mechanisms. Potential applications of the DeFi ecosystem have been identified, covering the provision and receipt of loans, banking services, and profit optimization. The key problems of decentralized financing have been identified, including a high risk of user error; low productivity; the possibility of third-party interference; difficulties in using tokens with different capitalization levels; imperfect functioning of programs; insufficient cybersecurity; significant volatility. The advantages and development trends of centralized financing are highlighted: fast access and openness; autonomy; relatively high profitability; savings on resources and time.
It is concluded that decentralized financing has both advantages and disadvantages.

The subject of the research is the development of the market of non - interchangeable tokens for works of art, which has become a new paradigm in the global art market of the 21st century. 
The purpose of the work is to determine the place and role of non - interchangeable tokens for works of art in the life of modern society. It is shown that the world is experiencing a rapid development of the market for non-fungible tokens (NFT), which includes digital works of art created from digital materials and not linked to real assets, and tokenized non–digital works of art linked to real tangible products of artistic creation, conscious human activity with aesthetic value. The speculative nature of the NFT resale market has been established, which initially caused a “gold rush”, and subsequently its adjustment due to the accelerated production and supply of art objects in NFT, which led to a drop in prices. It is revealed that the development of the NFT market requires solving the problem of legal qualification of digital assets and inheritance in Russia, whereas abroad they are considered as proof of ownership of a digital asset. Despite the development of the financial sector in Russia in the digitalization of financial services, the domestic NET market has just begun to form, in particular the platform Kefirium.ru provides an opportunity to buy and sell NFT for rubles.
Conclusions are drawn about the need for further development of digitalization of financial services, in particular the market of non-interchangeable tokens for works of art in Russia, the formation of competition between domestic platforms for the purchase and sale of NFTs for rubles, as well as the legal qualification of digital assets and their inheritance in Russia.

Effective strategic planning is a key factor in the successful development of the public and municipal management system.
The relevance of the article is determined by the need to find new methods and tools for optimizing strategic planning processes in a dynamically changing socio-economic environment.
The subject of the research is the peculiarities of strategic planning in the system of state and municipal administration of the Russian Federation. The purpose of the work is to develop a set of measures to improve strategic planning mechanisms at the state and municipal levels. A content analysis of 150 strategic planning documents at the federal, regional and municipal levels was carried out. In– depth interviews were conducted with 30 experts — representatives of legislative and executive authorities, scientific and business communities. A case study of the five best practices of strategic planning has been completed. Methods of systemic, factorial and comparative analyses are applied. The problems of strategic planning are revealed: insufficient coordination between management levels, formalism and declarative strategies, lack of resource provision. The necessity of institutionalizing the processes of joint goal-setting of government, business and society is substantiated. A model for managing strategic changes in public policy based on a project-process approach is proposed. Proposals for the implementation of risk-based strategic controlling have been developed.
It is concluded that the obtained research results develop the theoretical and methodological foundations of strategic management at the state and municipal levels, and the continuation of work on the further development of a set of measures to improve strategic planning mechanisms depends on the creation of tools for assessing the quality of strategic planning documents and the formation of an integrated digital strategic management platform.

The subject of the research is the formation of an effective communication strategy of the subjects of the Russian Federation to ensure public support for their initiatives and undertakings.
The purpose of the work is to identify the most effective methods and tools for information interaction between authorities and the public in promoting strategic projects. Using the experience of the Moscow Department of Transport and Road Infrastructure Development (DTRID) as an example, the key components of such a strategy are considered. It has been established that the fundamental factors for ensuring the effectiveness of DTRID communications are the diversification of communication channels with a focus on digital platforms; adaptation of media content to the needs of the target audience; regularity and consistency of information; the use of interactive feedback formats. As a result of the work done over the past five years, the share of Muscovites who support transport reforms in Moscow has increased from 58% to 81%. Promising areas of further research are outlined, including studying the specifics of communications in individual regions of the Russian Federation by comparing the effectiveness of online and offline formats of interaction between government and society.
It is concluded that Moscow’s experience can serve as a valuable methodological base for other regions in terms of building a dialogue with residents.

The subject of the research is the interdependence of public and corporate governance systems in the context of global technological transformation.
The purpose of the work is to establish the factors and conditions for the evolution of public and corporate governance systems in the new technological era.
The relevance of this study is due to the fact that the current global instability creates prerequisites for strengthening the interaction of government, business and society in order to find a compromise and solve emerging socio-economic problems. The concept of public administration needs to be revised and modernized in the context of a comprehensive, deep modernization of production, technological and business processes based on the systematic introduction of innovative technologies. The study identifies possible points of contact between government and corporate management systems that can provide a positive result in the technological development of the economy. The peculiarities of the application of the project approach in public and corporate governance systems are established. A roadmap for the compatibility of public and corporate governance systems is provided.
The research methods are systematic, situational and comparative analyses, a method of modeling socio-economic and managerial processes. A roadmap has been developed for the compatibility of public and corporate governance systems that can complement each other in solving global challenges. It is concluded that the effectiveness of management systems can be improved with the effective development of direct and reverse relationships.

The subject of the study is the economic relations that arise in the process of organizing and functioning the finances of public institutions in the context of supply — side economics.
The objectives of the work are to conduct a financial analysis of the activities of a federal budget institution using the example of the state regional Center for Standardization, Metrology and Testing of the institution (FBI CSM), identify weaknesses in its financial and economic activities, taking into account the specifics of the supply economy to ensure sustainable development and perform functions in accordance with the legislation of the Russian Federation, as well as prepare specific proposals to improve financial management. The essence of supply-side economics is considered.
The result of the study was the development of proposals to improve the financial condition and strategic planning in FBI CSM.
It is concluded that in the context of the formation of a supply-side economy, it is necessary to pay special attention to the planning of income-generating activities in public institutions and the management of accounts receivable and payables.

The relevance of the work is due to the desire of the BRICS member states to create an independent financial and technological infrastructure through blockchain technologies.
In Russia, their development is based on the formation of a legal and regulatory framework governing the use of digital assets, mining, and the integration of blockchain into government and financial structures through the creation of the Goschain and Masterchain platforms, as well as the implementation of new projects to form international settlement systems such as the digital ruble and BRICS Bridge.
The subject of the research is public policy instruments focused on the development of the conjuncture and technological infrastructure of the blockchain at the level of the national economy.
The purpose of the work is to analyze and compare digital tools and measures taken by Russia and China within the framework of the state innovation policy for the development of blockchain technologies. The article examines China’s experience in improving blockchain technologies, and evaluates the possibilities of using China’s experience to improve the effectiveness of the blockchain development strategy in the Russian Federation. The article identifies key differences in the approaches of Russia and China to the development of blockchain technologies. It has been demonstrated that China is actively integrating blockchain into the process of digital transformation of the national economy. It is established that China’s strategy includes standardization of technology and support for cooperation between corporate and PPP projects.
It is concluded that Russia adheres to a more balanced approach to the development of blockchain technologies in the domestic market.

The subject of the study is the GloBE rules, which are a coordinated taxation system aimed at ensuring that multinational groups of companies pay the minimum global income tax in each jurisdiction.
The objectives of the work are to establish the content, structure and practical experience of the introduction of GloBE by countries, vectors of influence on the structure of fiscal instruments to stimulate investment and innovation, as well as forecasting the introduction of the GloBE analogue in Russia. The study revealed the serious consequences of the introduction of GloBE for international investment and the effectiveness of certain tax incentives, including for R&D, which will require a review of the system of tax incentives for capital raising. The types of fiscal incentives that will not be affected by GloBE are highlighted.
It is concluded that GloBE will only give international tax competition a different form and reformat global investment flows. It is proposed to take into account the experience of China and Hong Kong, which do not want to cancel fiscal, investment and innovation incentives, voluntarily allowing the dilution of the national tax base, and it is from these positions that Russia should assess the structure of tax benefits within the framework of the GloBE analogue justification.

The subject of the study is the reduction of income as a result of the application of benefits and preferences for taxes, fees and mandatory payments to the budgets of public entities, as well as contributions to the budgets of state extra– budgetary funds.
The objectives of the work are to form a holistic view of the content of the concept of “tax expenditures” and the boundaries of its use, to establish differences between tax expenditures and tax benefits based on the analysis and systematization of Russian and foreign practices, as well as scientific research to determine the basic structure of taxation and identification of tax expenditures.
The relevance of the study is due to the lack of unambiguous criteria for recognizing a tax benefit as a tax expense in Russia. The scientific novelty of the work lies in the development of the author’s classification of approaches to determining the basic structure of taxation based on international experience, which made it possible to formulate proposals to clarify the criteria for identifying tax expenditures, including the definition of a new target category of tax expenditures. The article substantiates the importance of regulating the criteria for identifying tax expenditures; a comprehensive analysis of the volume and number of tax benefits established by federal law is carried out; the role of tax expenditures in the system of state financial regulation of the socio-economic development of the country is clarified.
It is concluded that it is necessary to allocate a separate target category of tax expenditures — “international tax expenditures”.

The relevance of the article is due to the difficulty of choosing a VAT rate option for small businesses in the context of tax reform due to their lack of proper tax management skills.
The subject of the study is VAT under the simplified taxation system (STS) from 2025.
The purpose of the work is to justify the choice of VAT rates by taxpayers who are on the STS, depending on the cost structure. The practical significance and scientific value of the study lies in the proposal of calculation algorithms and models that allow mathematically substantiating the preference for one or another variant of the tax rates for economic entities using the tax system.
It is concluded that it is more profitable to apply generally established VAT rates when the share of material and equivalent resources in the range from 75 to 30% is exceeded. At the same time, the larger the size of the taxpayer’s generally established VAT rates, the higher this share. If the share of material resources is lower than the specified values, it is more profitable to apply reduced VAT rates.
Proposals for further research on the identified issues are formulated.