RUSSIA: FROM STAGNATION TO SUSTAINABLE SOCIO-ECONOMIC GROWTH

Abstract

Academician Aganbegyan analyzes the main socio-economic indicators of Russia over the past 30 years, identifies the negative trends that hinder sustainable economic development, and concludes that the factors that ensure legitimate socio-economic growth are not working in Russia. The author is convinced that in order to overcome stagnation and ensure sustainable socio-economic growth in Russia, it is necessary in the next 3–5 years to move to the accelerated growth of investment (10–15% annually) in fixed assets and in human capital, primarily in the “knowledge economy”, and then to conduct a number of major reforms. These include property reform, regional management reform, financial reform, and social reforms. According to the scientist, this will allow Russia to move to a new model of economy with predominantly private property, a civilized competitive environment and market pricing, a developed capital market and a social state.