Role of leasing for sustainable development of the Russian economy

Abstract

This article suggests a deeper insight into the basic trends in Russian economy and national leasing market in view of acute shortage of investment and slumping oil prices. The Russian macroeconomic situation is not favorable for the leasing market development. A key attention is dedicated to leasing market which is a key indicator of the Russian economy. Leasing is looked upon as an effective means of business support and a powerful tool of sustainable development, as well as a way of acquiring credit income and renewing main capital. At this stage of Russian economy development, it is essential to work out the proper order of transactions and the Central Bank suggests that the leasing business should draw amendments to the existing regulations in order to create new control standards for leasing operations. It appears to be critical to enable a lessor to make flexible and effective administrative decisions and enjoy the possibility of managing the risks and profits of leasing transactions. The article also explains the correlations between external and internal economic factors, between financial and operative forms of leasing, between the amount of leasing investments and their contribution to the socio-economic revival of Russia.