MOSCOW, November 11. Russian financiers today celebrate one of their professional holidays — Economist's Day. Almost 260 years ago on this day, by decree of Catherine II, the Imperial Free Economic Society was created. In honor of this holiday, I asked experts to create a recipe for an “economic miracle” for our country.
In order for the NEP of the 21st century to happen, our country needs to develop infrastructure and strengthen partnerships with friendly states. And, according to the agency’s interlocutors, success will not be long in coming if we simplify private investors’ access to the market and increase investment in education at the state level.
At the same time, experts agree on one thing: simply repeating the experience of the West will not work here. “It is impossible to simply copy models of an economic miracle from the past in the present. We need to find our own unique ways, taking into account modern difficulties and the specifics of our situation,” explains Andrey Stolyarov, associate professor of the basic department of financial market infrastructure at the Higher School of Economics.
Infrastructure boom
For the successful development of the Russian economy, it is necessary to increase capital investments in GDP, believes Vladimir Evstifeev, head of the analytical department of Zenit Bank. In the current conditions, the expert emphasizes, creating an economic miracle lies in the plane of internal resources, as well as building a new capital market with friendly countries.
One of the key factors of the economic boom, taking into account the length of the territory of our country, can be the development of high-speed railways, continues Mikhail Khachaturyan, associate professor of the Faculty of Higher School of Management of the Financial University.
“Increasing transport connectivity can in the future provide up to an additional 10-15% of GDP. An increase in transportation speeds will provide Russia with the status of a transport hub between South, Southeast, East Asia, Africa, Latin and South America,” the expert adds.
It is equally important to develop the energy sector, Khachaturyan emphasizes. In his opinion, the main breakthrough in innovation here could be thermonuclear fusion, which will ensure the growth of Russia’s already significant potential in electricity production. This will also have a positive impact on transport: lower electricity prices will reduce the cost of transportation, the expert explains.
Contribution of the population
The agency's interlocutors stipulate that an economic breakthrough is impossible without the active participation of the population. The population should be allowed to invest actively in the domestic market, and not in foreign currencies of unfriendly countries, notes Lazar Badalov, associate professor of the Faculty of Economics of RUDN University. According to the expert, there are now a number of restrictions that prevent this.
“Today it is still easier for citizens to invest in the foreign currency of unfriendly countries or transfer funds abroad than to keep savings within the country. It is enough to eliminate such restrictions and the result for the economy will not be long in coming; investments in the economy will flow like a river, not abroad,” — the expert believes.
For the active contribution of the population to the development of the country, it is necessary to provide appropriate conditions, economists are sure. For example, actively improve digital financial technologies. “We won’t find similar examples abroad; we need to develop Russia’s own new economic policy,” Badalov notes.
And also, experts conclude, a miracle simply won’t happen without the development of education and civil society. “The model of the “Russian miracle” seems to be somewhat simpler than it might seem: ensuring a high level of science and education, ensuring the protection of private and intellectual property, supporting a high level of development of civil society,” says Nikita Utkin, deputy director of the NTI Platform ANO.< br />