Russian New University, 105005, Radio str. 22, Moscow, Russia

The conference “The Main Trends in the Development of the Modern Economy of Russia” held at RosNOU

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On February 18, 2020, the inter-university scientific student conference “The Main Trends in the Development of the Modern Economy of Russia” took place in the Russian New University (RosNOU). The conference was organized by the Institute of Economics, Management and Finance of RosNOU. Students and teachers of the Russian New University and the State University of Management participated in the event.

The conference was opened by Tatyana Regent, Scientific Director of the Institute of Economics, management and Finance:

“The past year has been rich in economic and political events. If we talk about improving the economic situation, we can name a softening of monetary policy – the Central Bank of the Russian Federation has lowered its key rate. Also, a historically low inflation rate was recorded, and gold and foreign exchange reserves over the past year grew so much that they covered the total external debt. Government debt equaled almost zero – this is a phenomenon that has not happened since 2014.”

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Participants of the conference also discussed the problems of the Russian economy.

“The most pressing issue today is the lack of growth in cash incomes of the population,” – Tatyana Regent noted. “That is why the message of the President of the Russian Federation was set earlier than in previous years, and after it there was a change of government. Not all budgetary funds were used for national projects – projects on demography, healthcare, science and culture were completed only by 80%. Ecology projects are implemented by 34%, the digital economy projects – by 24%. The main obstacle to the development of the economy of modern Russia is the lack of structural and political changes, which is the most vulnerable spot.”

Conference participants discussed the possibility of investment in the Russian economy, the impact of digitalization of the economy on life in Russia, the activities of international financial organizations and other topics. Forecasts for the near future were also formulated.

“Most experts, including myself, believe that economic growth will be 1.5–2%,” – Tatyana Regent said, – “but only if the situation with investments and national projects will be improved — the main drivers of economic growth. Let's be optimistic, everything will become clear at the end of the first quarter.”

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A fourth-year student of the Institute of Economics, Management and Finance of RosNOU Nikita Stepanov shared his impressions:

“The theme of the conference is relevant. I liked the speeches of all participants. In my work, I talked about the material and raw material base and investment attractiveness of the Norilsk Nickel company. I am interested in this company, because it is one of the most highly capitalized enterprises in Russia, it occupies a leading position in all ratings, not only Russian, but also international. We discussed issues related to the future of the Russian economy. I especially liked the topic of sharing economy, because I have an idea how to bring it to life. In the future I would like to open my own business and engage in enterprise.”

At the conference “The Civilization of Knowledge”, which will be held at RosNOU in April 2020, the Institute of Economics, Management and Finance will hold a separate section on the digitalization of the Russian economy.