87. Economic reforms of the government of V.V. Putin

A group of St. Petersburg economists led by Minister of Economic Development and Trade German Gref developed a program of economic reforms that included a new approach to budgeting, tax and banking reforms.

A new one was adopted Budget Code. A treasury system was created to streamline the spending of budgetary funds. It allowed streamlining the spending of funds, in accordance with the adopted laws, in particular, by establishing intra-annual line-item spending limits. Since 1999, the Federal Treasury has been implementing the Concept for the Functioning of a Single Account of the Federal Treasury for Accounting for Revenues and Funds of the Federal Budget, which makes it possible to reduce the period for the passage of income from taxpayers to the possibility of their use, and to accelerate their turnover.

New approaches to budget policy were dictated by the desire to establish tight budget control, balance state resources and obligations, powers and responsibilities at all levels of the budget system, and purposefully manage public debt and assets.

The next step in economic transformation was tax reform. The first drafts of the new tax code were considered in the State Duma back in 1997. The changes introduced reduced taxes by 1997% compared to 8. At the same time, it was envisaged to increase liability for tax evasion and tighten measures for tax collection. A number of tax benefits were cancelled. A single income tax rate was established - 5%.

The overall goal of the tax reform was to build a unified tax system, to ensure revenues for federal, regional and local budgets.

As part of the tax reform, a new Tax code.

Simultaneously with the tax reform, customs reform is also being carried out. The new Customs Code significantly reduced customs import duties.

Reform of the banking system was the next step in economic transformation.

A working group on banking reform was created, headed by A. Mamut, Chairman of the Board of Directors of MDM Bank. The working group developed the principles of banking reform, which later became known as the Mamut plan.

The reform of the banking system should provide the most comfortable conditions for the concentration of banking capital, including through the purchase of banks in the regions. The number of banks with a "federal license" may not exceed 30-40, while the number of small and medium-sized banks that will receive a "regional license" may decrease by 2 times.

The greatest discussions in the State Duma were caused by the project Land Code. The new Land Code should fix private ownership of land and the right to buy and sell land not only for Russian citizens, but also for foreign citizens.

This part of the project was the main objection. However, on October 9, 2001, the Land Code was adopted in the version proposed by the President.

After the adoption of the Code, about 40 million Russian citizens who owned land in one form or another received legally protected property rights to it.

Serious benefit, in the current difficult time for Russia, is provided by measures to counter the shadow economy and the illegal export of capital from the country. Decree of the President of the Russian Federation V.V. Putin (November 2001), a new body was established - the Financial Monitoring Committee, designed to monitor the movement of financial flows in the country, to identify cases of tax evasion and legalization of proceeds from crime.

Authors: Zilbertova T.N., Takhtomysova D.A.

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