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The problem of creation and development of a complex monitoring system for the financial market has gained relevance for the expert community as a result of the 2008 crisis that had demonstrated the vulnerability of the global and national financial systems, including regulatory and supervisory subsystems. The instability of the Russian financial market during the past two years only stresses the importance of developing a monitoring system.

In the present-day state management practice, the role of strategic planning in which setting of priorities and development objectives is an important component – otherwise efficiency of the state system is impossible – is growing.

Ratification in November 2014 of the Convention of 25 January 1988 on Mutual Administrative Assistance in Tax Matters imposed on Russia concrete obligations, including additional ones as regards rendering of assistance in tax matters.

The scope of opportunities which emerged on the back of depreciation of the national currency and sanctions forms a substantial growth potential for Russian enterprises in different industries.

On 1 January 2016, Federal Law No.224-FZ of 13 July 2015 on Public-Private Partnership and Municipal-Private Partnership in the Russian Federation and Amendment of Individual Statutory Acts of the Russian Federation (hereinafter the PPP Law) became effective.

In 2015, a law was passed to charge an individual property tax on the basis of the cadaster (market) value and not on that of state assessment of the property as it used to be done fr om 1992.

The system of centralized procurement used in Russia does not imply centralization in its strict sense. Such conclusion was made by the Gaidar Institute and RANEPA experts in their study.

On 10 June, for the first time since summer 2015 the Central Bank of Russia approved reduction of the key rate. It fell 0.5 p.p. to 10.5%.

The RF Ministry of Economic Development is ordered to consider the issue of closing down inefficient special economic zones (SEZ).

Earlier this week, the Russian Ministry of Finance began attracting foreign loans. The first step was the placement of 10-year government bonds in the amount of $1.75 billion.

On 23 May, Russian President Vladimir Putin signed the law on the distribution of revenues fr om excise duties on fuel. According to the law, starting from 1 June, 2016, the standard distribution of revenues from excise duties on petroleum products will be changed: 12% of them will be transferred to the federal budget, 88% – to regional budgets.

The economic situation in January–March 2016 was determined by the inertia effect of the previous year's factors.

The Russian Ministry of Finance is developing a new version of the budgetary rule which will restrain the ruble strengthening under oil price fluctuations. This was stated by Russian Finance Minister Anton Siluanov.

The next rise in excise duties on petroleum products has led to an increase in stock prices for petroleum and diesel fuel.

The World Bank forecasts that by the end of 2016, the number of impoverished Russians will grow by 1 million and will reach 20.3 million people.

The past year was the first year of implementing the Forecast plan (program) of federal property privatization and the guidelines of federal property privatization for 2014–2016, approved by the Russian Government decree № 1111-p from 1 July 2013.