Alexei Vedev, Head of the Financial Studies Department, Gaidar Institute commented to the Izvestia daily on the list of initiatives prepared by the RF Ministry of Economic Development to be included in the Strategy of the Social and Economic Development of Russia till 2030.

The RF Ministry of Economic Development is elaborating on the Strategy of Social and Economic Development of Russia till 2030 and will present it on time until July 1. According to the list of initiatives in question, their overall value will amount to Rb5.6 trillion till 2024. The government will grant Rb1.8 trillion on projects out of public coffers, the NWF and in terms of public loans on infrastructure. Overall, the pool includes 38 initiatives.

The most expensive projects belong to the Aggressive Development of Infrastructure” unit. By estimates of the RF Ministry of Economic Development, they will require Rb2.9 trillion worth of investments until 2024: Rb55 bn out of the NWF and Rb155 bn directly out of the state budget. The “New Public Contract” unit has become the second most expensive; the projects within its framework will require Rb1.2 trillion worth of investments. The projects within the frameworks of the New High-Tech Economy” unit will require about Rb1.2 trillion worth of investments of which Rb174 bn and Rb20 bn are to be granted out of the state budget and the NWF. The “National Innovation System” unit is more moderate in terms of the amount of funding as compared with those mentioned above: the overall volume of the declared investments is equal to Rb269 bn (Rb146 bn – budget funds). Finally, the “Customer-Focused State” unit includes only one initiative, that is, focusing public administration work on citizens’ requests; it will require Rb 19.5 bn (Rb3.7 bn out of the state budget).

According to the Izvestia daily, the final set of initiatives and the amount of funding will be approved in mid-June; public funds to support projects can be cut substantially after approval by the RF Ministry of Finance.

“After each crisis, the role of the state in the Russian economy consolidates. However, officials take enormous responsibility by designating specific projects which are going to form the future of the country,” Alexei Vedev stated.