Current Problems of Russian Economy

Abstract

In order to implement the breakthrough scientific, technological and socio-economic development of the Russian Federation, President V. Putin in May 2018 issued a decree “On the national goals and strategic objectives of the development of the Russian Federation for the period up to 2024”. According to this decree, by the end of the next presidential term of V. Putin, Russia should enter the TOP-5 of the largest economies in the world and the country's GDP growth should exceed the global level [1]. In pursuance of the decree of the head of state, the government has developed 12 national projects, the implementation of which, in the opinion of Prime Minister D. Medvedev, makes it possible to accomplish the daunting tasks of breakthrough development, a sort of economic leap or economic miracle. For example, the national project "Digital Economy of the Russian Federation", written in the document, "increases the competitiveness of the country, the quality of life of citizens, ensures economic growth and national sovereignty" [2]. In this article, the authors attempted to analyze the main current problems of the Russian economy in order to show which “baggage” was to be eliminated in the near future, which priority tasks were to be solved in order to make a planned breakthrough in socio-economic development and get into the TOP-5 largest economies in the world. Keywords—presidential decree; ambitious plans; problems in the