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The Main Reasons for the Backward Economy of Russia

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DOI: 10.23977/icpem.2019.071


V.V. Moiseev

Corresponding Author

V.V. Moiseev


President V. Putin in May 2018 issued a decree “On the national goals and strategic objectives of the development of the Russian Federation for the period up to 2024”. According to this decree, by the end 2024 Russia should enter the TOP-5 of the largest economies in the world and the country's GDP growth should exceed the global level [1]. In pursuance of the decree of the head of state, the government has developed 12 national projects, the implementation of which, in the opinion of Prime Minister D. Medvedev, makes it possible to accomplish the daunting tasks of breakthrough development, a sort of economic leap or economic miracle. For example, the national project "Digital Economy of the Russian Federation", written in the document, "increases the competitiveness of the country, the quality of life of citizens, ensures economic growth and national sovereignty" [2]. In this article, the author attempted to analyze the main current problems of the Russian economy in order to show which “baggage” should be eliminated in the near future, which priority tasks should be solved in order to make a planned breakthrough in socio-economic development and get into the TOP-5 largest economies in the world.


Ambitious plans, presidential decree, problems in the economy

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