Thursday, December 20, 2018

TASS — Putin expands on Russia's economy structure

Vladimir Putin believes that changes in the country’s economic structure, innovations, commitment to implementation of national projects will trigger GDP growth rates.

"It is hardly possible to ensure GDP growth rates required for a breakthrough unless the economic structure is changed. Currently, that is the target of national projects, with huge funds to be earmarked to change the structure, make it innovation-based. That is what the government expects. If that happens growth rates will rise, and other development prospects will appear," he said at his annual news conference on Thursday.
"I have already stated it many times. I want to say again we need a breakthrough; we should jump to a new technological paradigm. The nation has no future without it. This is a fundamental issue; we should understand this," Putin said.….
Putin reminded of areas for development of national projects. "The first one is healthcare, education, science and human capital, indispensable for any breakthrough. The second one applies to pure production and economy. These are digital economy, robotics development, and so on," the president said.
"Available resources should be found and concentrated on critical development areas," Putin added, responding to a question about implementation of national projects.... 
Echoing Xi Jinping on China's future.


See also

"I believe this [restoration of socialism in Russia] is impossible," he said at his annual news conference. "Profound changes in society are such that restoration of socialism <…> is impossible."
He added though that "certain elements of socialization of economy and social sphere are possible."
"That [restoration of socialism] is always related to expenditures and, eventually, an economic dead end," Putin stressed.

Someone needs to clue him in on MMT. Funding is not an issue for a currency sovereign like Russia. 

The actual issue is availability of real resources and Russia is rich in these. Russia is rich in natural resources, enjoys a high standard of education, has an advanced industrial base, and is self-sufficient in agriculture. 

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