15.05.2017 12:51   International

Putin approves Russian economic security strategy until 2030

© фото kremlin.ru

The document outlines major challenges and threats to Russia’s economic security, - TASS

Russian President Vladimir Putin signed a decree on approving the country’s economic security strategy until 2030. The document outlines major challenges and threats to Russia’s economic security and also goals and key areas and tasks of state policy for ensuring it.

"The strategy is aimed at ensuring counteraction to challenges and threats to economic security, preventing crises in resource-based, production, science and technical and financial areas and also non-admission of reducing living standards of citizens," says the document posted on the official portal of legal information.

According to the document, the Russian government has to develop measures aimed at implementing the strategy within three months.

Discriminatory measures against the key sectors of the Russian economy are one of the main threats to the country’s economic security, according to the economic security strategy.

The document names "discriminatory measures against the key sectors of the Russian economy, restricted access to international financial resources and up-to-date technologies" as challenges and threats to the country’s economic security.

The strategy also mentions the intention of developed countries to use economic development and hi-tech advantages as a global competition instrument, as well as the vulnerability of Russia’s financial system, the decrease in demand for energy resources, lack in technology, unbalanced budget and other factors among main threats.

The strategy is aimed at preventing deterioration of life quality and averting crises in all sectors of the economy.

The strategy names "insufficient amount of investment in the real sector of the economy due to unfavorable investment climate, high costs faced by entrepreneurs, excessive administrative barriers, inefficient protection of property rights" as challenges and threats to Russia’s economic security.

The lack of Russian non-resource businesses among leaders of global economy, weak investment commitment and innovative activity lag are also named among the main threats.

The document notes that the resource base of energy companies is getting exhausted as acting fields are depleted. In its turn, Russia’s non-resource export is limited due to its low competitiveness, insufficiently developed market infrastructure and Russia’s low involvement in global value creation ‘chains’.

Specifying the main challenges and threats to Russia’s economic security, as well as the targets, main goals and tasks of the state policy in this area, the strategy is aimed at preventing deterioration of life quality and averting crises in all sectors of the economy.

The document outlines major obstacles and threats to Russia’s economic security, as well as the government’s goals and efforts for ensuring it. The strategy is aimed at preventing crises on all economic fronts and countering any deterioration in domestic living standards.

Among the major threats to Russia’s economic security are the drive by developed countries to use economic advantages and hi-tech as a tool of global rivalry, discriminatory measures against key sectors of the Russian economy, vulnerability of Russian financial system, decreasing demand for energy resources, technological shortcomings and an unbalanced budget.

Key trajectories for implementing this policy will be to develop a system of state management, economic forecasting and strategic planning, in addition to creating conditions for developing and implementing modern technologies.

The document says that measures for achieving these goals include improving investment climate, de-offshorization of the economy, advancing retaliatory measures to fight sanctions and streamlining budget spending.

The strategy envisages the creation of national system for managing risks, which detects and assesses potential challenges and threats, and also outlines measures to fulfill state policy in ensuring economic security.

The previous economic security strategy was adopted back in 1996 and since then the situation in global economy and in national economy has significantly changed. The decision on developing a new strategy on Russia’s economic security was made at the Security Council’s meeting in July 2015.

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