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Russia's development plan may be too broad to succeed

Tuesday, July 2, 2019

Subject

Russia's six-year development strategy.

Significance

A year on from its announcement, Russia's development programme to 2024 has many unanswered questions about specific activities and funding sources. Nor is it clear whether the programme will generate rapid growth and other positive impacts by 2024, as planned.

Impacts

  • The national projects should be a way of rallying public support but fewer than half of Russians have heard of them.
  • The inflationary risks of higher public spending may push the central bank towards restrictive monetary policy.
  • Essential legal, administrative, tax and other reforms are not high on the agenda.
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