The subject of the study is the main tasks, principles and problems of the unified state monetary policy for the mediumterm period 2022–2024.

The purpose of the work is to identify the advantages and disadvantages of the unified state monetary policy in the medium term to ensure real economic growth of Russia on the basis of the examination of the main directions of the unified state monetary policy formulated by the Bank of Russia for 2022 and the period 2023 and 2024. The results of the contribution of monetary policy to the economic development of Russia and ensuring not only its financial, but also social stability are established. Particular attention is paid to the interrelation of monetary-credit and monetary policy; monetary and macroprudential policy; the need for informed decision-making in the field of monetary policy instruments, as well as the macroeconomic effects of the transmission mechanism of monetary policy.

Conclusions are drawn that despite the identified shortcomings, the experts of the Financial University positively assess the presented draft of the Main Directions of the unified state monetary policy for 2022 and the period 2023 and 2024, but believe that it can be supplemented and more concretized taking into account the comments made, proposals put forward and new phenomena that may arise in the first half of 2022.

The subject of the study is the main problems of tax policy for the medium-term period 2022–2024.

The purpose of the work is based on the provisions formulated by the Ministry of Finance of the Russian Federation of the Main directions of budget, tax and customs tariff policy for 2022 and for the planning period of 2023 and 2024 to assess the formed state tax policy for the near future within the framework of the task of Russia’s transition to advanced development and the implementation of national projects that are of priority importance at the current stage of state development and require significant resources for their implementation, assuming the achievement of clearly defined final results. The article analyzes the results of the practical implementation of tax policy measures provided for in a similar document, taking into account the results of the implementation of budget, tax and customs tariff policy for the period up to 2021, and on this basis determines the degree of effectiveness of tax regulation tools and tax administration technologies in conditions of increasing risks of the state in modern conditions to ensure the sustainability of the budgets of the budgetary system of the country and taxpayers with the measures taken for tax control. Based on the consideration of the proposed direction of tax policy for the period 2022–2024, it is concluded that, in general, the measures provided for by the Main Directions of budget, tax and customs tariff policy for 2022 and for the planning period 2023 and 2024 to adjust tax policy in order to solve urgent economic problems of the Russian Federation deserve a positive assessment, with the exception of a number of provisions on which the author’s opinion is given.

The subjects of research are the current state of the global natural gas market, regional aspects of its production and consumption.

The purpose of the work is to assess Russia’s prospects in the gas sector. Forecasts of the long-term development of the global market are presented with an emphasis on the countries of East and South Asia, where, according  to  long-term  forecasts, gas  demand  will  double  to  1,092.6  million  tons  of  oil  equivalent  by 2050. It is established that the advantage of natural gas on the world market is its price due to the decarbonization policy proclaimed by economically developed countries, price volatility and escalation of conflicts in the gas sector. It is expected that by 2050 China will increase gas consumption by almost 350 billion m3 to 661 billion m3, which currently exceeds the volume of gas consumed by the countries of the European Union and the Middle East. It is proved that during the period of economic slowdown caused, among other things, by the coronavirus pandemic, the imbalance of supply and demand in the global hydrocarbon market leads to its destabilization. The article attempts to predict the evolution of energy markets and determine the volume of gas demand in the foreseeable future.

It is concluded that the consumption of natural gas in key regions of the world will only grow, which opens up significant export prospects for the Russian natural gas market.

The subject of the study is financial relations in the process of digital transformation.

The purpose of the work is an analytical assessment of changes in the system of economic relations in the digital economy through the use of systematic, economic and statistical analyses, which ensures the integrity and comprehensiveness of the study. It is established that increasing the role of the knowledge economy in the process of digital transformations is an urgent task in modern transformations of society. The analysis revealed the problems of financial relations in digital transformations, including the lack of an integrated approach to managing economic processes; reduction of state control with the rapid development of horizontal links between business entities; lagging legislative and regulatory acts from rapidly changing situations; increasing risks of cyberattacks during various operations; complication of management systems for various processes in the mechanism of digital technologies; increased impact on intellectual capital of obsolescence. The conditions of using intellectual potential are considered in detail. The article notes that the global direction of the development of society is the trend towards the knowledge economy due to the transformation of science into a direct productive force. Objective factors of this process include the growth of the educational level of personnel; accumulation of work experience in dynamic conditions; complication of the nature of the work functions performed.

Conclusions are drawn that institutional financial support for innovative development and an integrated approach to the development of the intellectual potential of the country are necessary.

The relevance of the topic of this article is due to the existing contradiction between the essence of the modern (nationalmarket) monetary system and the practical structure of the banking system, within which the central bank performs the issuing function.

The novelty of the question posed in the article consists in the argument that the central bank within the framework of the national market monetary system should be positioned only as a producer of various legal platforms for the number of monetary units, and not as an issuing authority.

The subject of the study is the issue function of the central bank, which it performs in the same way as in the previous (gold-standard) monetary system, without paying attention to the fundamental difference in its status within these systems.

The purpose of the article is to argue for the unjustified nature of the central bank’s emission function in modern conditions. As a result of the conducted research, through the use of methods of analysis from general to particular, deduction and induction, unity of historical and logical, organic consistency in the disclosure of material and a number of other scientific methods, the article concludes that since the increase in the volume of money on the market is due to the creation of national gross income, and not due to the increase in confidence in the authority of the central bank or an increase in the volume of its assets, the cash produced by the central bank, they should be positioned as a national (common) belonging of the market (country), and not as its private property. Based on their positioning, these funds should be put into market circulation on a compensatory, and not on a commercial basis.

The subject of the study is the investment behavior of Russian private investors in the conditions of monetary policy transformation.

The purpose of the article is to predict the possible reaction of retail investors in the stock and futures markets to the continuation of the Bank of Russia’s inflation targeting policy, which has had a positive impact on inflation dynamics at the moment, but has led to a reduction in the key rate and, accordingly, a decrease in the attractiveness of bank deposits. It was found that as an alternative to deposits, an increasing number of potential investors began to consider the possibility of investing in stock and futures market instruments to obtain increased income compared to investing money in deposits on bank accounts. Such an increased interest in high-risk financial products, which has come as a surprise to both professional market participants and the regulator, carries a social danger of investors with a low level of financial literacy entering the market in conditions of increasing financial risks and instability of the economic system, which will cause an increase in volatility in the stock market.

The article concludes that the probability of a decrease in the growth rate of turnover on transactions of retail investors and a relatively low possibility of outflow of funds from financial markets back to the bank accounts of private investors.

The subject of the study is the development of Russian non-financial ecosystems in the conditions of digitalization of the world economy.

The relevance of the topic of the article is due to the fact that at present the concept of «business ecosystem» is becoming more and more popular and is actively used by both producers of goods and services and their consumers. Non-financial ecosystems, the founders of which, as a  rule, are  IT  organizations, develop comprehensive client solutions, controlling almost the entire value chain and related financial calculations.

The  object  of  research  in  this  article  is  foreign  and  Russian  non-financial  ecosystems. 

The  purpose of the work is to identify the features of the formation and development of Russian non-financial ecosystems using  financial  technologies. The  results  of  the  study allow  us  to  draw  conclusions  about  the  explosive  growth of business ecosystems in the Russian Federation, which creates risks for their participants and other economic entities. The article highlights three basic strategies  for  creating  business  ecosystems:  the  development  of new fintech solutions on their own; the acquisition of shares in diversified companies and its inclusion in the ecosystem; the creation of intraand inter-industry collaborations. The analysis of creation and functioning of the largest Russian non-financial ecosystems is carried out: Yandex, VK (until October 2021 Mail.ru Group) and MTS. It is shown that at the first stage of development, the use of the first strategy is typical for Russian non-financial ecosystems. At the second stage of development, these ecosystems  begin  to  develop  their  payment  systems, as well as provide non-core services, which is possible only with the use of the second basic strategy. Financial ecosystems, which are based on the largest Russian banks, are characterized by the use of the second, and in some cases, the third basic strategy when creating an ecosystem.

The subject of the research is the trends of the global retail payments market in the emerging digital economy.

The purpose of the work is to identify the features of the modern retail payment system and determine the dynamics and trends of their development in Russia and foreign countries. Such payment mechanisms as cash, instruments based on electronic money transfers, checks, direct debit, payment cards are considered. As a result of the analysis of the global retail payments market, it was found that its dynamics will be influenced by such trends in the development of the world economy as a decrease in the share of cash payments and an increase in non-cash turnover, an increase in the use of e-commerce and retail consumer activity on the Internet, digitalization of banking operations, acceleration of economic processes of consolidation of business and capital through mergers and acquisitions of organizations. The trends of the retail payments market in Russia are considered, among which the active development of contactless electronic technologies, the rapid pace of development of the payment infrastructure and the increase in the types of payments made using payment cards are highlighted.

It is concluded that the development of the global retail payments market in the coming years and the formation of the global payment industry will cause the emergence of trends towards a decrease in the share of cash payments, an increase in e-commerce and an increase in retail consumer activity on the Internet, as well as the digitalization of banking operations. The development of the Russian market will be determined by the trends common to the global retail payments market.

The subject of the study is the state of e-commerce in the world and Russia.

The purposes of the work are to analyze the world experience of e-commerce and predict the prospects for its use in Russian practice by determining the essence of e-commerce; establishing the degree of its influence on business and society; forecasting trends in the formation of the e-commerce market in Russia, taking into account world practice. The research used methods of scientific analysis and synthesis implemented within the framework of structural, functional and systemic approaches to e-commerce. A comparative analysis of the work of successful companies in the field of e-commerce is carried out, as well as ways to increase the competitiveness of Russian trading enterprises in the context of globalization are considered. It is revealed that in the modern world electronic technologies in general and the Internet in particular significantly affect all aspects of human life: from the format of communication in everyday life to obtaining knowledge and their implementation into real actions. The rapid development of information technologies, the growing spread of the Internet and its extensive business opportunities have become prerequisites for the emergence of such a new and dynamically developing trade sector as e-commerce.

Conclusions are drawn that the use of specialized software, including a secure payment system, when working with e-commerce, will certainly improve the productivity of the Russian business model by increasing the level of security and reducing economic risks.

The relevance of the research is determined by the increasing need to improve strategic planning for the formation of more dynamic rates of economic, social development and ensuring national security of the Russian Federation in difficult political and economic conditions of our time.

The subject of the study is project management in the process of implementing strategic plans of the state.

The objectives of the work are to establish the main directions and indicators of the transition to project management in the implementation of strategic plans to reduce the risks of not receiving the planned result in a given time, as well as on the basis of the continuity of projects, ensuring the evolutionary development of strategic plans in the Russian Federation in 2022–2023. The main directions of application of the Soviet and foreign experience of project management are considered.

As a result of the research, it has been revealed that the application of the project approach to strategic planning makes it possible to systematize and structure not only a set of strategic goals, but also indicators characterizing them, as well as regulatory legal documents establishing these goals and indicators, as well as to adjust sets of indicators and documents in case of duplication of their components or a shortage of individual ones to form close  vertical  and  horizontal  links between these indicators, as well as documents defining them.

Conclusions are drawn that the application of project management methods in the process  of  strategic planning  not  only increases  the  efficiency of  this  process, but also allows determining the required degree of further deepening of the transition to project management in the implementation of strategic plans.

The speed and scale of the changes taking place in the global economy exacerbate the contradiction between its global nature and the predominantly national level of regulation, which leads, along with other global imbalances, to the accumulation of problems and contradictions that need to be resolved at the supranational level.

The subjects of the research are the factors and directions of the development of the global governance system in the context of the dual transition to the “green” and digital economy, the ongoing coronavirus pandemic and the growing general instability of the global monetary and financial system.

The purpose of the work is to identify promising directions for the development of the existing system of global regulators that provide the ability to solve key problems of the global world monetary and financial system based on the principles of multilateralism.

As a result of the conducted research, it is proved that the three-level system of global governance, consisting of interacting formal and informal regulators, is more consistent with the tasks of supranational regulation in the global economy, subject to the principle of multilateralism, and the vector of its further development is due to the trend to increase the importance of informal regulatory institutions with an increase in the degree of their institutionalization. The necessity of formation and global redistribution of financial resources in order to facilitate the double transition of the most vulnerable countries and prevent new imbalances, as well as the expediency of developing a system for early detection of the impending crisis and triggers for the inclusion of preventive anti-crisis financial assistance programs for developing countries are substantiated.

Financial University, Moscow, Russia https://orcid.org/0000-0001-6864-4281

The relevance of the article is due to the need to support the textile industry in Russia, the strengthening of the role of regions in the restoration of this branch of the economy on the basis of state policy at the federal and regional levels aimed at financing new production technologies and the development of online sales channels.

The subject of the study is the course of investment in Russian textile production, which currently does not withstand high competition in international sales markets and hardly competes with the sale of Chinese textile products within the country.

The purpose of the work is to develop proposals to improve the process of investment inflow into the textile industry of Russia by taking measures to stimulate intersectoral and interregional cooperation; building end-to-end chains both in light industry and between other industries; increasing the share of export-oriented products, especially blended fabrics, linen complex. It is established that promising segments of the industry development are the production of multilayer membrane materials in an environmentally friendly production cycle, as well as the introduction of textile recycling technology. The study revealed that a new point of growth in the textile industry may be the technology of digital printing on textiles.

The article concludes that it is necessary to take additional measures to develop textile production, attract investment in fixed assets, support the linen complex, the transition of industry to a closed-cycle economic model and the greening of business.

The subject of the study is the dynamics of real expenses of the Russian family.

The purpose of the work is to establish the prospects for changes in the expenses of the Russian population in the future based on the identification of negative factors that hinder the increase in real incomes of people. It is established that with the growth of people’s material well-being, the share of spending on meeting natural needs in the household budget decreases and the number and cost of benefits increases to meet the individual’s need for a high assessment by society of his personality, which consists in the desire to acquire such benefits that distinguish him from other people or ensure recognition of his belonging to a higher social group of society. The method of identifying goods with a high share of prestigious value is given and the answer to the question is given: what part of the budget is an individual willing to sacrifice to satisfy his ambition. The main directions of reducing consumer spending are being established. Special attention is paid to optimizing the costs of food, housing, transport, education, and healthcare. The factors influencing the size of monetary savings and ways to optimize them are considered.

It is concluded that it is necessary to identify unnecessary expenses by keeping records of personal and family expenses and applying for this purpose a functional cost analysis of family budget expenditures, in particular to identify goods and services that a family can do without.

The subject of the study is the trends of the recovery growth of the national economies of the countries of the world community based on the UNCTAD report on foreign direct investment made in 2021.

The purpose of the work is to establish the role of the state as an institution for ensuring the progressive development of national economies based on the analysis of investments by the United States and China, which regard federal funds as factors of stabilization of the socio-political situation, initiating and guaranteeing the direction of private enterprise capital to the industrial segments of the economy. It has been established that both countries are taking strict measures to regulate the structure and sectoral orientation of foreign direct investment and do not regard them as a basic source of financing for development: the PRC directs public-private investments in priority segments of the economy — information and communication technologies, the fifth generation of mobile communications, artificial intelligence and agriculture; the United States considers reindustrialization and reshoring to be the main tasks in the post-pandemic period, investing federal and local budgets to restore them. At the end of the analysis, conclusions were drawn that correspond to modern trends in the transformation of investment activity during the recovery period of development in the post-pandemic period.

The subject of the study is the economic integration of the EAEU member states in the aspect of trade relations.

The purpose of the work is to identify the relationship between the spatial development strategy of Russia and the course of integration of the EAEU in the context of the development of mutual trade relations. It is established that the process of regionalization of the world economy is currently continuing, one of the forms of manifestation of which has become the economic formations of states at different stages of integration and maturity levels of trade and economic relations. After the collapse of the USSR and the formation of the Commonwealth of Independent States, efforts were made to find the most acceptable forms of deepening economic relations. After lengthy negotiations between the leaders of the former Soviet republics, the EAEU was formed, one of the goals of which is to create a common market on the terms of free movement of goods, services, capital and labor, i.e. spatial development of the territories of the former USSR.

The study concluded that trade relations are derived from the level of economic development, its structure, and the place of countries in the international division of labor. It is revealed that mutual trade within the framework of the EAEU can be more effective if specialization and cooperation of production activities are developed. This will increase the complementarity of the economies and will contribute in the long term to the  equalization  of  the levels of socio-economic development of countries, the mitigation of spatial imbalances. Moreover, the promotion of countries to a new technological order can become a driver of increasing their competitiveness in international commodity markets. However, the integration factor of the EAEU in solving the problems of spatial development of both Russia and its partners in the Eurasian Union remains underutilized.

The subjects of the study are the legal content and economic consequences of changes made to tax legislation.

The purpose of the work is to develop a mechanism that allows, on the one hand, to prevent the possibility of tax evasion using the rules of taxation of interest and dividends in the state of residence of their recipient, and on the other hand, to prevent double taxation of income received as a result of investments.

The methods of countering tax evasion using double taxation avoidance agreements implemented in Russia and abroad are analyzed. It is revealed that all of them have drawbacks: problems inevitably arise with the implementation of a single corporate income tax rate into national legislation; control over its actual application is extremely difficult due to the fact that the rules provided for by the BEPS Plan are insufficiently formalized and provide taxpayers with excessive discretion in their application; The counteraction to tax evasion currently being implemented by the Russian Federation through adjustments to tax agreements is in conflict with the protection of the legitimate interests of bona fide foreign investors.

Proposals have been formulated to adjust certain conditions of tax agreements regarding the taxation of dividends. The necessity of their practical implementation in order to ensure the investment attractiveness of the economy of the Russian Federation is substantiated.