How to formulate and execute policies that will ensure economic development on their own.

Abstract

    Russia's economic growth model has transitioned from a monetary liberal model to a greater emphasis on domestic consumption and the substitution of imported products and services. This shift occurred because Russia overestimated its dependence on foreign capital markets and the relatively small potential size of its GDP compared to Western scenarios. The new model is designed to address the structural imbalance between production and consumption, with a focus on high-tech companies and the establishment of self-accessible industrial infrastructure. This approach guarantees economic growth independently, regardless of external factors, thanks to the utilization of local labor and capital. The demand for a more streamlined economic system and the ineffective payment system in the United States further accelerated the change.