Generating the general agreement among people as well as among policy-makers on economic conditions using economic indicators and their analyses will help the government to formulate and implement policy measures. In this field, we believe Japanese experiences in the field of publishing economic white papers and monthly economic reports may be helpful. It is noted that lack of credibility and effective dissemination of statistics has worsened market sentiments in the process of the Russian financial crisis in the summer of 1998. Trust by well-informed foreign investors is essential to stabilize the market. For this purpose, it is important to provide them with objective, timely, and needed information.
Some indicators are also suitable for predicting a financial crisis with proper usage.
However, these types of indicators often send wrong signals and mislead market, too. Thus, not only timely provision of data, but also exact interpretation and analyses of these by government economists become all the more important. The paper contains a brief survey of burden of public utilities reform on the budgetary system and households in Russia. The article consists of five parts. Chapter I is concerned with relationships between the federal and local budgets.