In 2018, the journal “Economic Science of Contemporary Russia” published an article by Vitaly Efimovich Manevich, a Soviet and Russian economist, Doctor of Economics, Professor, and Chief Researcher at the Institute of Economics of the Russian Academy of Sciences. The article “Monetary Policy of the Central Bank of the Russian Federation and the Dynamics of the Russian Economy in 2015–2017” was published after the author’s death. The article’s main conclusion was as follows: the Central Bank of the Russian Federation is capable of influencing economic growth not only by regulating aggregate demand and redistributing resources between economic activities, but also by jointly creating, with the Russian government, additional sources for financing the budget deficit, directly linked to the monetary base and the country’s domestic debt. The authors, in their study, confirm V.E. Manevich’s findings on the limitations of inflation targeting in the face of external challenges and substantiate the need for a changed approach to managing the exchange rate and money supply. Using statistical data on the Russian economy for 2022–2025, the article demonstrates that a structural liquidity surplus of the bank sector, coupled with high interest rates, constrains lending to the real sector of the economy and slows economic growth. Based on V.E. Manevich’s methodology, the need for greater coordination of monetary and fiscal policies in managing the money supply and public debt is substantiated.

This article investigates the impact of macroeconomic policy on the capitalization of the Russian stock market under conditions of liquidity segmentation, impaired arbitrage, and shifts in investor composition following 2022. The objective of this study is to refine the transmission mechanism of monetary and fiscal impulses to the market capitalization of public companies, accounting for institutional constraints. The methodological framework is grounded in a synthesis of macro-financial literature, a comparative analysis of international empirical findings against Russian specificities, and a qualitative institutional and functional analysis. The findings indicate that in the contemporary Russian context, the influence of the key interest rate on short-term equity market dynamics is diminishing, whereas the role of ruble liquidity is increasingly pronounced. It is established that the response of market capitalization to macroeconomic impulses exhibits sectoral heterogeneity and is contingent upon the dominant transmission channel–interest rate, credit, fiscal, or foreign trade. The study substantiates that ownership structure, state participation, and investor composition act as robust modifiers of the market response. The primary result of this paper is the development of a matrix of institutional filters linking macroeconomic policy decisions to the heterogeneous responses across various segments of the Russian stock market. The scientific novelty of the research lies in the conceptualization of elements for a transmission model mapping macroeconomic policy onto the capitalization of public companies.

The purpose of this article is a comprehensive analysis of the current state, problems and potential of the monetary policy of the Central Bank of the Russian Federation as a financial mechanism to stimulate the structural modernization of the Russian economy, which began in 2022. It is shown that the tight monetary policy implemented in 2022–2025 in order to ensure the key macroeconomic prerequisite for structural transformation – price stability, has made it difficult for companies to access national investment resources. The article substantiates the need to activate a selective monetary policy based on fine-tuning mechanisms that can stimulate the development of priority sectors and industries of the economy, which are currently underutilized. Various options for forming an effective channel for supporting targeted economic activities using these mechanisms are being considered and evaluated. The author concludes that the mechanism for refinancing state development institutions based on taxonomy projects is promising and suggests ways to improve it.

The adoption at the end of 2024 of a new version of the Spatial Development Strategy of the Russian Federation for the period up to 2030 and with a forecast up to 2036 confirmed the fact that spatial strategizing remains a necessary component for the strategic management of economic and social processes in the country. At the same time, there has been established a position that the success of such a strategy-building practice in this case is determined not only by its legal and regulatory framework, but also by its reliance on a holistic system of spatial development and regulatory institutions, many of which (even with some historical analogies) can be considered innovative for our practice of state and municipal governance. In this sense, a significant advantage of the Strategy-2024 for development of local self-government and its implementation plan should be indicated as their emphasis on solving specific institutional and managerial tasks in the spatial development sphere, as well as on establishing pathways for achieving these challenges, particularly through the creation of growth “anchors” and innovative development of the Russian economy. The article emphasizes the need to prepare and adopt a new Strategy for the development of Russian local self-government and outlines the fundamental innovations that should be enshrined in this strategic planning document. This includes maintaining the status of Russian local self-government as an institution of civil society and ensuring the direct participation of the population in its implementation.

The study revealed contradictory dynamics in the development of agro-industrial complex of the Donetsk People’s Republic. On the one hand, a significant progress has been made in crop production and certain areas of animal husbandry, on the other hand, systemic problems persist that hinder the realization of production potential. The key challenges include: high depreciation of machinery, technological dependence on imports, structural imbalances between export-oriented and import-substituting industries, as well as external risks. A set of measures has been developed to modernize the agro-industrial complex, including technological renewal of production and infrastructure, development of the research base, restructuring of industries and improvement of investment policy. Special attention is paid to the need to develop the processing industry and increase the share of high-value-added products.

The work is devoted to the development of models of optimal insurance inventory for trading enterprises specializing in the wholesale of non-ferrous metals. The approaches to optimizing the insurance stock in the literature have been identified: heuristic; level of service; robust optimization; the “Newsvendor” model and its variations; multi-criteria and targeted optimization; cost minimization; loss minimization; use of digital tools. The insurance inventory in the industry is the minimum amount of inventory that guarantees the required level of service during the time before the replenishment of commodity resources or the organization of transit delivery to the customer with an unknown discrete, integer distribution of demand (order volume). Two models based on the universal estimation of probability bounds by Chebyshev and Cantelli inequalities, respectively, and a distributed robust optimization model based on a linear programming problem with a constraint on moments and an upper bound on a random variable are proposed. Empirical research based on real data shows that with a service level of 0,90 and 0,95, the difference in results between the compared models is only 1–2 tons, which makes a more conservative solution preferable, since it is universal for any distribution. In the example under consideration, with a service level of 0,99 corresponding to the minimum probability of shortage, models based on probabilistic inequalities can obtain an insurance stock of 70 to 100 tons, while a model based on a linear programming problem recommends keeping an insurance stock equal to the maximum value of demand (order volume). In this case, the solution is a compromise between the high opportunity costs of storing insurance inventory and the loss of robustness to ignorance of distribution due to the introduction of an upper limit on demand (order volume).

The article identifies the stages of creating a single energy market for the countries of the European Union (EU). It examines the strategy for creating an energy union of the EU countries, which defines five key areas for the development of the EU energy sector during the transition to a carbon-neutral economy (up to 2050). Differences in government support for «green» business in different EU countries have been identified. It is concluded that the state is increasingly intervening in the energy sector, using a wide range of direct and indirect instruments of influence.

Additionally, the evolution of the consumption patterns of primary fuel and energy resources (FER) in 27 current EU member states was studied for their differences (or similarities). Centrifugal trends in price variations for energy resources in different EU countries were identified. It was emphasized that a characteristic feature of energy supply in EU countries is the high share of energy imports, which, in the process of forming a single EU energy market, has not decreased, but is steadily increasing. As a result, it is concluded that energy based on renewable energy sources (RES) has its competitive advantages, but there are also certain risks associated with increasing the share of RES in the overall energy balance.

The article examines the prospects for developing trade and economic relations and trans- port and logistics connectivity between Russia and the countries of East Africa. Based on international trade statistics, key commodity groups and directions of mutual trade with containerization potential have been identified. Maritime and multimodal routes have been analyzed, revealing infrastructural limitations of ports and the railway network that hinder the formation of sustainable logistics chains. A SWOT analysis has been conducted, demonstrating a combination of significant market opportunities with high political, financial, and infrastructural risks. The analysis concludes that the most promising direction for Russia is integration into existing regional and trilateral formats of East Africa through alignment with Indian transport and logistics corridors and Mozambique’s ports. It is recommended to form multimodal supply chains taking into account risks for routes through the Suez Canal, with a focus on creating a sustainable container cargo base.