This study’s subject is to examine the goals, measures, and tools, along with macroeconomic effects of Russia’s monetary policy (MP) from 2026 to 2028, the Central Bank’s methods, and economic forecasts. The paper aims to analyze and examine the «Guidelines for the Single State Monetary Policy for 2026 and the Period 2027–2028» document. Also, the objective is to examine the characteristics and issues of MP in the medium-term, its impact on Russia’s economic progress, economic structural changes, and the boosting of domestic growth drivers. The authors are also looking at the issues of contemporary MP principles, their openness and effectiveness, characteristics of the modern MP transmission mechanism, and the Bank of Russia’s communication strategy. As a result, the research showed that medium-term MP would be countercyclical, and wouldn’t directly address the key economic goal of balanced, sustainable national growth. It was concluded that the document had deserved a positive evaluation, considering the comments and recommendations of experts from the Financial University under the Government of the Russian Federation.

This study’s subject has to examine the objectives and tools for growing the Russian financial market in the coming years, considering the current economic situation, development forecasts for the medium term, and the impact of economic sanctions. The study aims to examine and analyze the “Guidelines for the Financial Market of the Russian Federation for 2026 and the Period 2027–2028” document approved by the Board of Directors of the Bank of Russia on November 6, 2025. This intends to pinpoint the characteristics and difficulties in creating and executing development policies across the financial market in the mid-term. This is done to ensure the nation’s lasting economic growth and to stimulate internal growth drivers. The authors emphasize channeling financial investment into novel sectors, boosting company connections, revising the Corporate Governance Code, expanding equity financing, and growing the digital financial asset market and derivatives to mitigate credit and interest rate risks. The authors concluded that “Guidelines for the Financial Market of the Russian Federation for 2026 and the Period 2027–2028” had deserved a positive evaluation, considering the comments and recommendations of experts from the Financial University under the Government of the Russian Federation.

The transformation of the national economy faces mounting pressure because of macroeconomic instability, technological advancements, and geopolitical tensions. Russia’s national growth strategy grapples with the challenge of balancing increased budget incentives for new growth points with the necessity of fiscal sustainability. This is achieved through systemic strategies and targeted fiscal policies. This study aims to pinpoint and assess significant aspects of current Russian budget policy. Its focus is on how this policy contributes to social stability, encourages technological advancement, and supports regional growth. The author employed systemic and institutional analysis, comparative methods, expert assessments, and statistical data analysis as their methodological framework. This enabled the author to pinpoint significant structural and dynamic shifts in budget policy related to funding and to gauge the expected effects of budget policy actions in the medium to long term. As the result the study concluded that a budget policy focused on social well-being reinforces economic stability and promotes fair benefit distribution across various societal segments. This is achieved through a steady enhancement of living standards, a decrease in inequality, and improvements in crucial health and education metrics.

The subject of the research is to explore funding for national tech leadership, looking at innovative economic growth, fiscal goals, and federal budget sustainability tools. This paper aims to explore the difficulties of using budget money and projectbased financial tools for national projects. The relevance of the work stems from shifting approaches to balancing and sustaining the federal budget in the new 2026–2028 budget cycle amid slowing economic growth, a move away from relying on budgetary stimulus to stimulate the economy, a return to primary structural balance, and the replenishment of financial reserves as the liquid portion of the National Welfare Fund. The author found that the fiscal policy might lessen the federal budget’s financial support for national tech leadership projects and decrease the public sector’s GDP contribution. It’s concluded that economic restructuring and fiscal policy goals can succeed with sustained funding of key federal projects within national tech initiatives and Russian state programs. The scientific novelty and significance are in the clear definition of fiscal policy objectives, considering innovative economic growth, methods for planning fluctuating federal budget income, and creating program-­based federal budget expenditure management during national technology leadership projects. Based on the results obtained during the study, the author developed and proposed recommendations related to introducing target indicators for assessing fiscal incentives for innovative development in state tech leadership programs of the Russian Federation and the application of a scenario-­based approach to planning budget allocations for implementing such programs.

The importance of this study stems from the need for Russian investors and businesses to swiftly value, commercialize, and monetize digital intellectual assets. This research focuses on digital intellectual property, its usage rights, and how to assess and market it. The paper aims to define the economics of digital intellectual assets, find the factors that affect their worth, and analyze valuation approaches and commercial use methods. The study used methods of comparative analysis, classification, valuation, innovation economics, tabular and graphical visualization of the results, and valuation tools. Thus, the author found key digital intellectual assets and assessed their practical uses, then classified factors affecting their value. The paper analyzed current valuation methods and ways to commercialize digital intellectual property. The author’s conclusion was that a company must determine market or investment value, considering the factors found, to commercialize digital intellectual assets.

The paper’s subject is examining decentralized autonomous organizations (DAOs) governance models during the digital economic shift. This study aims to deeply analyze DAOs to find governance aspects, and to develop a model to help integrate them into global finance and public administration. To achieve this goal, the study addressed the following tasks: analyzing existing methods to DAO governance; identifying key risks and opportunities; modeling a hybrid organizational structure; and assessing the role of stablecoins as a stabilizing element. The study’s novelty comes from the creation of a unique adaptive DAO governance model that combines elements of centralization and decentralization to enhance efficiency and legitimacy. The author used methods of comparative and systemic analysis, modeling, and real-world solutions and regulations. The results prove DAOs can complement traditional governance by making economic interactions more transparent and efficient. The study’s main takeaway is that DAOs need a balanced regulatory framework and better governance. Government agencies, blockchain developers, and specialists in public and corporate governance can use the work results.

The paper’s significance comes from the domestic economy’s need for modern integration uniting industrial enterprises, scientific organizations and tech companies for developing and producing innovative high-tech products. A cluster is a better integration type, as it keeps member entities more independent than a holding company. The study’s subject explores industrial clusters’ ecosystem structure, characteristics, and anticipated outcomes. The goal is to develop a model of an industrial cluster as an ecosystem that creates favorable conditions for multi-­ level interaction of participants and implementing joint projects in import substitution, innovative development of regions and achieving tech sovereignty of the country. The author has achieved four key objectives: studied the clustering process in the Russian Federation and assessed the level of its development; identified the prerequisites for the formation of an ecosystem approach to cluster development; modeled the proposed structure of an industrial cluster as an ecosystem; determined the properties of the ecosystem organization of industrial clusters. Consequently, the study showed that Russia lacked a standardized cluster nomenclature and typology. Industrial clusters generally prevail, and there’s a trend of integrating science, higher education, and production for innovation. The author designed and suggested a target model for an industrial cluster with potential in science, education, production, innovation, and IT. The research shows the advantages of managing the cluster through a specialized organization with state participation. The author highlights the cluster’s ecosystem structure, implying environmental integration, decentralized task allocation, resource cycling, maximum sustainability, and self-development, which should support goal setting and value-­ driven actions. This work’s scientific innovation is that it pioneers an ecosystem organization model for an industrial cluster. This clarifies how it guarantees that the environmental impact of the new tech infrastructure results from more interaction within the cluster between its participants and partners. The author concluded that the creation of industrial clusters as ecosystems will help their member companies create competitive high-tech products in their regions. This will lead to faster innovation and reindustrialization, while the state will protect technology and strengthen national security.

Since 2010, the federal government has been conducting regional financial management quality assessments. The purpose of the assessment is to encourage regions to improve their financial management quality. The authors set about analyzing the Procedure for Monitoring and Assessing the Quality of Regional Financial Management (the Procedure) for 2010–2024. The paper aims to develop recommendations for improving the Procedure. The authors primarily used methods of comparative legal analysis and statistical data processing. The result was the Procedure hadn’t met its incentive goals. First of all, there was no incentive mechanism for leading regions. This Procedure, including its incentive indicators, features metrics primarily tracking adherence to minimum financial management quality standards. The large number of indicators (83 in the current version, 148 for 2010–2024) means that the contribution of many indicators to the final assessment is insignificant. Changes to the Procedure often prevent regions from promptly adapting to new indicators or adjusted calculation methods, as they are made during the reporting year or the following one. The authors determined that the Procedure’s incentive effect must be boosted by altering the indicators and creating suitable regional incentives. Via incentive transfers or by assessing quality results to select Russian Federation entities for subsidies and inter-­ budget transfers.

The most important complex tasks solved by economic development programs are the economic development of regions, the restoration and improvement of industrial enterprises, transport accessibility, and infrastructure. Accurate evaluation of program project priorities and logical arrangement of their execution promotes the region’s economic harmony. The research aims to build an integrated mechanism for assessing the priority of projects and modeling their implementation schedule considering the priority. The study’s scientific novelty stems from its calculation mechanism that uses both expert opinions (verbal scale) and fuzzy estimates to decide regional development project priorities. Also, the authors offer a criterion of lost profits in case of delay in project implementation for assessing the resulting schedule; an economic and mathematical model; and an algorithm based on the selection of projects under their priority. The implementation schedule is based on minimizing total lost profits. The study’s key results include the following original scientific and practical developments: a model for converting verbal expert opinions into quantitative assessments of project priority; the applying mechanism for the obtained draft priority assessments to construct a lost-profit criterion for project schedule modeling; step-by-step algorithms for solving the assigned problems, enabling the software development. The authors concluded that the proposed procedure is universal, and they recommend it for economic boosting program development at the federal subject level and at the district and municipal ones.

Regional economic policy significantly contributes to the Russian federal state’s economic policy, driving spatial reforms. The author intends to trace regional economic policy’s development through free markets, state regulation, incentive programs, and social priorities in national development. This study’s goal is to pinpoint the unique traits of forming and executing regional economic policy throughout the different phases of the sovereign Russian state’s progress. The author conducted an in-depth analysis of the regulatory framework governing regional economic policy, information sources, and priority strategic planning documents. Systems and civilizational approaches, historical-­ systemic methods, and content analysis were the main research methods. The starting database contained regulations, instructions, plans, reports about regional economic policy, and other official sources. As a result, the research showed the evolution of Russia’s regional policy after the Soviet era and proved its historical success. The paper outlines terminology changes in rules and data, which affected how people viewed regional economic policy at the start of the 21st century. The author analyzed key trends envisaged in strategic planning documents, reflecting the country’s spatial development in the early 2020s and through 2030. The work identifies leading industries, economic sectors and spheres of activity that will have a significant impact on the development of Russia’s economic space in the upcoming planning period, as well as the role of macro-­regions in the functioning of the national economy, their influence on economic growth and the formation of a supply-side economy. The study also found obstacles to coordinated regional economic policy implementation by Russian Federation entities during the reform period: flaws in laws, inadequate planning methods, management structure issues, and specialist training gaps. The author concluded that using the term “aggregate economic potential” when planning and analyzing the achievement of the national development goals the President of the Russian Federation established, and they also determined a differentiated approach was needed when selecting priority areas for implementing regional economic policy in Russia’s administrative-­territorial entities. Those interested can use the study’s findings to enhance government strategic plans. Further study might center on establishing the core principles of state spatial development policy and designing a thorough methodological toolkit for a deep analysis of challenges and detecting trends in the evolution of regional economic space.

The paper’s subject is the financial-­investment model of state and non-state social security (FIMSS) in the constituent entities of the Russian Federation and its efficiency in macroeconomic instability in 2022–2025. The research aims to identify systemic limitations of the current regional FIMSSs caused by the methodology for measuring the absolute poverty line, the structure of budgetary resource redistribution, and high regional differentiation of socio-­economic conditions. The study’s significance hinges on the socio-­economic inequality growth in Russia from 2022 to 2025, which, despite a stated drop in absolute poverty, reveals issues in the Russian social protection system. Given the economy’s reliance on raw materials, the concentration of high incomes, and significant interregional differences, improving the FIMSS is now a key goal of state financial policy, which intends to eliminate poverty and promote social justice, along with fostering sustainable economic growth. The empirical basis of the study was official statistical data for 2022–2023, provided by Rosstat and the Unified State Information System of Social Security. Methods of correlation and regression analysis were the author’s tools for identifying links between poverty indicators, inequality, and social spending. The paper focuses on evaluating the Gini income coefficient and poverty rates (both absolute and relative) relate, both linearly and non-linearly. It also examines per capita social protection spending and the macroeconomic characteristics of the regions. The study revealed that as the proportion of the population with incomes below the subsistence level decreased, income inequality grew. Under specific conditions of high inflation and fast nominal income growth, many people with incomes above the subsistence level are excluded from social support, resulting in “hidden poverty,” which is especially clear in places like Moscow. The author suggests a better approach to evaluating FIMSS’s efficiency by analyzing the ratio of actual per capita social policy spending for every 1% of the impoverished, adjusted by the regional subsistence minimum. The results lead to the conclusion that the current FIMSS fails systemically to curb socioeconomic inequality growth and ensure social stability in times of macroeconomic shocks. Restructuring the FIMSS should be based on a relative poverty line to increase social policy’s sustainability and targeting.

This paper’s subject covers the strategies, goals, metrics, and tools for enacting tax policy from 2026 to 2028 within the current economic development framework. It also addresses all essential elements involved in refining the tax administration system. The significance of this work for budget sustainability, through increased tax revenues, is shaped by shifts in domestic and international economic factors. The study aims to examine, from a practical and scientific viewpoint, the Russian Government’s strategy for refining the tax system. This involves altering the structure of tax revenues, with an emphasis on the increasing significance of VAT in indirect taxation and personal income tax as the leading tax for individuals. The authors note the comprehensive adjustments to tax legislation that ensure effective revenue generation for the country’s budget system and support taxpayers working towards Russia’s national development goals. It has been established that the tax policy for 2026–2028 there’s an ongoing upward trend in tax revenue for the national budget, alongside a stable tax burden for businesses and tax incentives for particular social segments and expenditures. As the study’s result is a conclusion that fairness in its conclusion on changes to personal income tax legislation and ensures fair competition by preventing tax evasion via fragmentation, restructuring, and bankruptcy. Still, the authors feel that modifications to the VAT system’s calculation and payment methods warrant additional review in the post-transition.

This paper provides a theoretical and methodological basis for aligning digital tax control technologies with tax policy principles in Russia and Tajikistan. This study’s value and innovation stem from tax control’s digital shift and linking tech to tax system principles. The object of the study is tax relations and tax administration practices in the digital transformation of public administration in the Russian Federation and the Republic of Tajikistan. The subject of the study is the theoretical and methodological foundations for aligning digital tax control technologies, such as big data, AI, distributed ledgers, the Industrial Internet of Things, and analytical platforms, with the fundamental principles of state tax policy. The research aims to develop the conceptual contours of the theoretical and methodological study and a mechanism for aligning digital tools and tax policy principles, as well as to identify the institutional, legal, axiological, and process conditions that determine the feasibility and limits of integrating digital control tools into the tax systems of Russia and Tajikistan. The study employed abstract and conceptual analysis, a source review and synthesis, theoretical modeling, and generic scientific methods. The author focused on analyzing and assessing digital tools’ compliance with legal, neutral, transparent, predictable, efficient, and fiscally sustainable principles. The work’s finding is a conclusion: there are methodological limitations in the digitalization of tax control. The author presented a conceptual system, highlighted research areas, and called for framework development. This study covers boosting strategic digital tax solutions, tax policies, the digital transformation of tax authorities, and digital tax control systems.