Russia launches new national project to boost economy

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A new target project "Efficient and Competitive Economy" is expected to be launched in the coming months, Alexander Novak, the candidate for the position of Deputy Prime Minister says.

Novak stated that the goal of making Russia one of the top four economies in the world by 2030 must be accompanied by growth not only in the economy but also in household and business incomes.

As to the top official this requires the development of a new economic growth model and a shift towards a supply-side approach, which would stimulate the country's development and ensure a stable and dynamic economy.

The new national project will focus on achieving this goal, and one of its main objectives will be to establish such a project in the near future. Novak emphasized the importance of creating incentives for economic growth and ensuring a sustainable and dynamic economic system.

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