Problems of investment support of current economic development in Russia

Aim. To analyse investment activity in modern Russia in the context of new conditions and tasks of the country’s economic development, as well as to identify the directions of its stimulation and development.

Tasks. To analyse the current state and prospects of development of the Russian economy in the context of external sanctions; to study and assess the level and features of business investment activity in modern Russia; to propose tools and directions of stimulation and development of investment, considered as a way to restart the mechanisms of economic growth.

Methods. The methodological basis of the research was the provisions of macroeconomic theory, in particular such sections as the theory of economic growth, the theory of state regulation of the economy, the theory of investment. The methods of comparative and retrospective analysis, structural modelling, analogy, expert evaluation and qualitative methods of forecasting were used.

Results. It has been established that the Russian economy has entered the period of development characterised by high uncertainty of the main influencing factors. This negatively affects the behaviour of economic entities and weakens the potential for economic growth. One of the important factors of growth and sustainable economic development is investment. Despite the external sanctions pressure on the Russian economy, there was no decrease in investment activity in 2022. On the contrary, it has increased. This is a prerequisite for successfully overcoming the current crisis phenomena in the economy and further successful development of the national economy. At the same time, a number of problems restraining the investment activity of Russian business have been identified.

Conclusions. In modern conditions, the issues of creating effective incentives to support and develop the investment activity of Russian companies have become more relevant. The relevant measures should be built into a new model of economic policy aimed at creating the potential for long-term economic growth in Russia in post-normal conditions. These measures are related to the activities of development institutions acting as sources of “long” and “cheap” money, as well as to the adjustment of fiscal policy, oriented towards the creation of additional incentives for the growth of investments of economic entities.  

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