PROJECTION OF NORWAY’S BUDGET POLICY ON RUSSIA

Abstract

In the conditions of active digitalization of the world economy, the procedure for forming the state budget is becoming the most relevant topic for maintaining active interaction between government representatives and citizens. The constructiveness of this dialogue lies in the creation of a civil society that is aware of the process of legal formation of the state, as well as the specifi cs of state processes based on the achievement of strategic state fi nancial goals. Since the timely implementation of fi scal policy in the country can prevent an economic default, the implementation and control of the fi nancial tactics of the state is the main task of management. It is also important to pay due attention to the special impact on economic systems and stages of their development from the COVID-19 virus infection. During the active infl uence of this virus on the activities of the economic sphere, the process of rethinking the purpose and procedure for using budgetary regulatory instruments has become especially important. The purpose of the study is: to study the budget policy of Norway and Russia at the federal level, as well as to analyze the impact of the projection of the budget policy of Norway on Russia. It is concluded, using the example of the projection of Norway’s budget policy on Russia, that the borrowing of foreign experience in building the structure of the budget policy of the Pension Fund Norway has a positive impact on the process of formation of the National Welfare Fund of Russia.