NEW RUSSIA: 30 YEARS WITHOUT ECONOMIC GROWTH

Abstract

The author considers the reasons why Russia failed to achieve significant economic growth. The country has been in stagnation and crisis for the last 10 years. He analyzes the socio-economic system created in Russia - a state-oligarchic monopoly with an undeveloped market and a backward social sphere. In the final part, the author presents the opinions of experts on the fundamental changes necessary for the socio-economic system of the country for the transition to sustainable growth. This is the organization of a financial afterburner, an increase in investment in fixed and human capital, the reproduction of “long” money in the economy, the turn of the banking and budgetary system to the tasks of the country’s socio-economic development based on the transition to innovative development with a priority increase in the well-being of the population.