| | | | PROBLEMS OF MODERN ECONOMICS, N 4 (88), 2023 | | | | FINANCE AND CREDIT SYSTEM: BUDGET, CURRENCY AND CREDIT REGULATION OF ECONOMY, INVESTMENT RESOURCES | | | Mochulaev V. E.
Assistant Professor, Institute of advanced training “Conversion” — Higher School of Business (Yaroslavl), PhD (Economics)
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| | | The article examines the nature of the digital ruble, which was put into effect in Russia on August 1, 2023. In order to get away from the dependence on the US dollar, the author proposes to use the “energy ruble” as a new currency, secured not by the assets of the Central Bank of Russia, but by Russia’s energy resources. The article gives some suggestions on the development of the information image, the emission of an energy ruble and the justification for its introduction as a cost measure; discusses the example of estimating the energy equivalent of the ruble in the Soviet and Russian periods and their aligning to the present-day realities; and emphasizes the strong correlation between energy consumption and GDP. The author discusses an example of calculating Russia’s GDP based on the results of annual electricity consumption; establishes the reasons for the discrepancy between the calculated and actual GDP values; and observes that many BRICS countries are transitioning to mutual trade relations in national currencies, and thus require a unified means of payment (currency). Energy ruble can become such a currency, and not only within the framework of the BRICS countries, but also, potentially, as a full-fledged world currency. | | Key words: energy equivalent, energy ruble, emission, world currency, reduced electric energy, kilowatt-hour, Gross Domestic Product | | Pages: 83 - 86 |
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