Socio-Economic Development of Russia amid Global Crisis and Sanctions Wars in 2021–2022

Abstract

It is noted that before the adoption of unprecedented Western sanctions under the pretext of launching a special military operation, the Rus- sian economy had achieved relatively high macro indicators of development. Based on the analysis of the results of macroeconomic dynamics observed at the beginning of 2022, the authors conclude that the trend of economic growth continued in the first quarter, and for a number of indicators in the first half of this year. However, this positive trend began to undergo significant changes. It is emphasized that the unprece- dented financial, monetary, trade, economic, informational and other sanctions imposed to Russia required the current management system to make adjustments to the principles and priorities of the state socio-economic policy.The rationale is given for the fact that under the pressure of world geopolitics, the tasks of countering the sanctions wars declared to Russia have taken on key positions. It is concerned with providing social guarantees, ensuring the stability of the financial and monetary systems, stabilizing the consumer market, prices and inflation, as well as searching for more reliable foreign trade partners and mechanisms for set- tlements between them in national currencies.The validity of the formation of strategic development indicators for the next three-year period 2023–2025 based on the principles and priorities of the new state socio-economic policy is noted.