SOCIAL PRIORITIES OF THE RUSSIAN ECONOMY DEVELOPMENT

Abstract

The article analyzes the main aspects of social policy in the modern Russian economy. In particular, the current demographic situation is assessed. It is concluded that the key factor in maintaining the size of the Russian population in the long-term prospect will be reduction of mortality. It is emphasized that a favorable domestic economic situation is a necessary factor in maintaining acceptable birth rates in the country. For several reasons, migration can no longer be considered as a stable factor of compensation for negative domestic demographic trends. Based on various statistical data, the contribution of population consumption to the formation of economic dynamics is considered. It is stated that along with the decisive contribution of the population’s demand to the formation of Gross Domestic Product (GDP), stable imbalances have developed in the structure of incomes and expenditures of the population, preventing qualitative shifts in the structure of consumption. These imbalances have a negative impact on the development of production and require special attention of the economic authorities. In this regard, it is proposed to change the focus of assessing the effectiveness of decisions in the field of economic policy from macroeconomic (based on macroeconomic and budgetary efficiency) to socio-economic, considering the impact of decisions in the field of economic policy or ongoing projects on employment, income of the population and the development of human capital sectors.