The Russian Economy: the new government and the old tasks

On May 8, 2018, the FINAM Information Agency conducted on-line Conference on the set tasks for the development of the Russian economy named as «Russian Economy: the new government and the old tasks» in wich EDSG experts took part. During the conference the issues of searching for new sources for economic growth, problems of raising the retirement age, as well as increasing the real incomes of the population were discussed.

According to experts, prospective sources of growth for the Russian economy may be related to structural reforms. An additional impetus can be given by systemic changes in the interrelationship between sectors of the economy, taking into account the specifics of their output and their contribution to GDP. Part of this can contribute to the already launched initiative of digitalization of the Russian economy. Now the contribution of the digital sector into the Russian GDP does not exceed 2.8% (while in Korea this figure is above 10%). The development of the digital sector can be an additional source for the growth of the domestic economy.

Experts shared their views on the question if the help for the oligarchs who were brought under the sanctions (first of all, Deripaska) is provided. In their opinion, more likely scenario is the nationalization of part of the shares of RUSAL. Undoubtedly, the enterprise has systemic significance for the industry, influencing the supply and demand factors in the market. Nevertheless, the industry’s influence has not come strongly in the economy to influence the parameters on the national currency.

Link to the FINAM news