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One of lessons which can take the Russian government, is That for achievement of macroeconomic stability in the country is necessary To support in the balanced status at least one of two balances - Internal (the state budget) or external (balance of payments). Macroeconomic stabilisation will have steady character in that Case if equation will be mutual.

Essential influence on a status of the Russian economy, including - on The status of public finances renders constant outflow of the capital from

The countries, - both legal, and illegal. According to the balance of payments on

Extent of some years there is rather considerable a non-return export Gains, volume of import advance payments and the trading credits given

The Russian private sector to non-residents. Are steadily great also so-called

"Pure admissions and errors", which as a matter of fact appreciably

Characterise volume of illegal export of the capital. The bottom curve in drawing 2

Represents quarter volumes of outflow of the capital from the country.

Apparently from the given drawing, till 1996 capital export on volume

Practically coincided with size of balance of the bill on current operations, i.e.

Capital outflow as a matter of fact was financed at the expense of pure export from Russia.

Beginning since 1996 volumes of the taken out capital steadily exceed volume The pure currency receipts provided with the foreign trade operations. With This period, the increasing part of the taken out capital represents Extra means, credits which were given to bodies state

The authorities. Especially brightly it was showed in 1997-1998 after the sharp

Reduction of balance of the bill on current operations. Thus, it is possible To assume that the means involved from abroad for financing Deficiency of the federal budget, after a while left back.

Fig. 2. Balance of the bill on current operations (the top curve) and export

The capital in 1994-1998 (billions dollars, according to the payment Balance)

The following lesson which Russia can take from financial crisis 1998 Year, again consists that for achievement of the macroeconomic

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Business Icon Set Business Icon Set is a collection of fine-looking stock icons for use in programs and on websites. They are provided in a variety of formats, sizes and color schemes.

Large Weather Icons Large Weather Icons depict different weather conditions typical in software, weather Web sites, and mobile gadgets. The icons arprovided in all sizes standard to Windows, Mac OS, and mobile platforms. The biggest versions are huge 512x512 pixel images with vector sources in Adobe Illustrator (.ai) format easily affordable and ready to be printed or used in presentations in highest resolution.

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