The new president of the Russian Federation was pleased with his plans

Vladimir Putin gave the new-old government six months to find the recipe for an economic miracle.
08.05.2018
Origin source
Russian President Vladimir Putin, who took office on Monday for the fourth time, after the solemn ceremony and a thanksgiving service in the Kremlin's Annunciation Cathedral, signed a decree listing the instructions for the new government.

The document, published on the Kremlin's website, calls for a "breakthrough" in the scientific, technological and socio-economic development of the country in the next six years.

The government, according to Putin's decree, by 2024 should ensure "the entry of the Russian Federation among the five largest economies of the world", as well as "the economic growth rates are higher than the world ones." At the same time, it is required to maintain "macroeconomic stability", including inflation, which does not exceed 4%.

The number of people living below the poverty line (13.1% of the population or 19.2 million people), according to the decree, is to be halved, and every second enterprise is forced to make innovations.

In addition, the government is charged with "accelerating the introduction of digital technologies in the economy and social sphere", as well as "sustainable population growth" and increasing its life expectancy: healthy - up to 67 years, and a total - up to 78 years. At the same time, 55% of citizens should, according to the president's instructions, "systematically engage in physical culture and sports."

At the same time, labor productivity must be sharply increased: according to the decree, it must grow by no less than 5% per year. This will require the creation of a national program involving at least 10,000 enterprises.

In non-primary industries, Putin instructs to form export-oriented production, the volume of which will be at least 20% of GDP.

Exports of anything other than oil, gas and petroleum products need to be increased 1.6 times - to $ 250 billion a year. Of these, 50 milliards should be brought by machinery products, and 45 billion by agricultural products.

Export of services needs to be increased almost twice - from 56 billion dollars last year to 100 billion in 6 years.

The action plan for these tasks should be ready before October 1, 2018. By this time, the government has been instructed to prepare a forecast of socio-economic development, taking into account the provisions of the decree, as well as determine the "resources" that will be required for its implementation.

Recall, according to the IMF, for 2017, Russia's GDP was 1.56 trillion dollars in nominal terms. By the size of the economy, Russia occupied the 11th place in the world with a share in the world GDP of 2%.

The top five included the United States (19.4 trillion dollars), China (11.7 trillion dollars), Japan (4.8 trillion dollars), Germany (3.4 trillion) and Great Britain (2.5 trillion).

Thus, to take a place in the top 5, the Russian economy should increase by 1.66 times in the next 6 years, provided that competitors will stagnate or fall down to 2024.

This implies GDP growth rates of 7-8% annually every year from the current one, which is 6 times faster than the economy grew in 2017 (1.4%), and almost quadruples the official forecast of the Ministry of Economic Development, which implies an increase of 2.1% -2.4% in the next three years.

Governance

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