Characteristics of the Financial System of the Russian Federation

Abstract

This article provides an overview of some of the elements of the modern financial system of the Russian Federation both in retrospect and in future. In particular, the following elements: the federal budget, extra-budgetary funds, the banking system are considered. Within the analysis of the federal budget the dynamics of revenues and expenditures and their ratio to GDP for the future 2014-2017 is shown. Review of extra-budgetary funds is disclosed through the analysis of revenues and expenditures of the Pension Fund, Social Insurance Fund and the Federal Obligatory Health Insurance Fund in the past 10 years. Also the dynamics of payments of insurance fees for the 1991-2014 is shown. Also the characteristics of the assets of the banking system for 2009-2013 are given.

DOI: 10.5901/mjss.2015.v6n3p627