Oil Fiscal Regime (Goldsworthy & Zakharova)

Evaluation of the oil fiscal regime in Russia and proposals for reform prepared by Brenton Goldsworthy and Daria Zakharova, published by IMF. “Oil revenue plays a central role in Russia’s economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia’s current oil fiscal regime.”