The Current State of the Russian Financial System: New Vectors of Legal Regulation of the Financial Market

The scientific work is devoted to the current state of the Russian financial system. The first part of the study provides empirical data on budget revenues and expenditures as a macro-legal institution in characterizing the state of the Russian financial system. In the second part — new vectors of legal regulation of the financial market — an attempt is made to resolve the academic dispute about the core consolidation of state and municipal borrowing from the position of goal-setting of the financial market.