It is obvious that today the global factor determining the recessionary scenario for the development of the world economy is the coronavirus pandemic and quarantine measures to prevent its spread. The need to increase spending on the social sphere and medicine, business support and a reduction in revenue sources in the context of a business lockdown are becoming a serious test for the budget system. The article examines the dynamics of tax revenues in 2016–2020. An idea was formed about future tax revenues in the Russian Federation in the context of the economic crisis associated with the coronavirus pandemic.
An important direction for the stabilization of economic development is the existence of effective mechanisms for attracting financial resources by business entities. Due to its investment capacity, Russia’s corporate securities market plays an important role in the financial system of the state. The need for economic recovery (after crisis, military-political, sanction and other force majeure circumstances) also requires the widespread use of corporate securities as equity capital raising instruments. The formation of the corporate securities market enables the financing of the needs of economic entities in the three institutional sectors – financial, non-financial corporations and households. In spite of the importance of access to financial resources of contractors of all institutional sectors, financing of the sector of non-financial corporations (enterprises-subjects of the real sector of economy) in today’s conditions determines the rates and proportions of economic development. Enterprises – market participants decide the issue of attracting the necessary resources through the issue of various equity and debt corporate securities. This determines their investment position in capital markets and, at the same time, reveals the ability to use the investment potential of the corporate securities market.In this regard, the article deals with the peculiarities of the formation of the market for Russian corporate bonds. Various indexes of corporate bonds of the Moscow Stock Exchange are considered. A detailed analysis of the placement of corporate bond loans in the sectors of the fuel and energy industry and heavy industry has been conducted. The main dominant industries, attractive for investors in recent years, as well as branches in which the investment decline is observed, are revealed.The conducted researches can serve as the basis for the development of practical recommendations for improving the efficiency of the functioning of the corporate securities market.
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