Restoring Russia’s Economic Growth

Abstract

This publication is based on a summary report of discussions held at meetings of the Russian Academy of Science’s Institute of Economic Forecasting organized by the Institute’s senior management in early 2016. These meetings were dedicated to identifying and exploring the methods of restoring economic growth in Russia. The report sets primary objectives and directions for the country’s economic development in upcoming years. Aim. This publication aims to communicate with a wider audience, specifically the readership of the “Economics and Management” journal, the fundamental principles of forming an anti-crisis policy in the country, including key macroeconomic and financial measures that aim to restore the economic growth proposed by scientists at the Institute of Economic Forecasting. Results. The basic definitions in the report are relevant insofar as restoring economic growth will make it possible to generate resources that are required for solving the problem of economic restructuring in 2017-2025. Over this period, active transition toward internallyoriented investment growth should begin, providing structural and technological modernization that facilitates significant increases in production efficiency, enhances the competitiveness of the Russian economy, and creates a potential for export expansion (based on the formation of “new” revenue).