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May 11, 2018 www.intellinews.com I Page 4
questions than answers, including the financ-
ing plan of ambitious goals, while omitting the changes in the spheres seen by investors and markets as crucial for Russian economy, such
as state-business relations, property protection, judicial reform, taxation, and higher efficiency and transparency for state companies.
The Russian Audit Chamber previously warned that the new decree could cost about RUB8 trillion to im- plement, while government sources told the press in April it could be closer to RUB10 trillion ($162bn).
Development programs include healthcare, edu- cation, demographics, housing and urban devel- opment, international cooperation and exports, la- bour productivity, SMEs, roads and infrastructure, ecology, digital economy, science and culture.
commented, noting that in terms of nominal GDP Russia currently ranks 13th and in terms of total purchasing power parity 6th (following China, US, India, Japan, and Germany).
Other goals include extending the life expectancy in Russia to 78 years by 2024 from current 71 and to 80 years by 2030, halving the number of people in pov- erty, keeping productivity growth at 5%, and main- taining GDP growth at a pace faster than global.
The need to make a "breakthrough" diversifying away from hydrocarbon focused economy to radically im- prove the quality of life and break the ranks of global economic powers is the recycled nutshell message that has been repeated by Putin for over a decade.
At the same time the new decree continues to sug- gest no clear or viable means to finance the set goals or radical economic reforms, thereby increas- ing uncertainty for the incoming government. bne IntelliNews has covered this topic of the reforms in
Among the ambitious goals that the implementa-
tion of the programs should achieve is making
Russia one of top five largest economies globally
by 2024. Th5e000c_rWiItEeF_rKiaazakahsrteann_MoAGtAsDp_1e14cx1if7i5emmd_O,LG.aiaze1ta.0r4/u05/2018Ru1s2:s3i5aPiMn a series of interviews and podcasts.