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16To date, there are many barriers to investment by potential investors. However, according to the results of the survey, over the past year there have been a number of positive changes, noticeable for business. Thus, top managers of member companies of the European Business Association note the liberalization of currency legislation, the relative stability of the national currency and inflation, the implementation of effective methods to combat raiding, economic recovery and development of electronic services, constant dialogue between government and business.
Investors come to a country where there is an attractive environment for business development, where there are clear and transparent laws aimed at supporting business, where there is infrastructure for business development. The more developed the environment, the more attractive it is for foreign direct investment. Clarity, predictability and confidence in the future - this is what the country should first give the investor.
Thus, Ukraine remains attractive for investment, at the same time it is not outside the world processes, is sufficiently integrated into the world economy and the violation of macro stability in foreign markets has its echo in Ukraine.
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PREREQUISITES FOR ENSURING INCLUSIVE ECONOMIC GROWTH IN RUSSIA BY THE
PUBLIC SECTOR
Gersonskaya I.
Candidate of Economics, Associate Professor, Associate Professor of the Economy and Finance Department, Russian Academy of national economy and public administration under the President of the Russian Federation, Lipetsk branch, Russia, Lipetsk
Abstract
The article considers the prerequisites for ensuring inclusive economic growth in Russia. The state priorities of socio-economic development are considered. The main problems in Russian society that hinder inclusive economic growth are listed. The role of the public sector in ensuring the prerequisites for inclusive economic growth is substantiated. The directions of priority national projects in Russia at the present stage are given.
Keywords: public sector, inclusive economic growth, socio-economic development, indicators of inclusive-ness, national projects, public welfare.
In modern conditions of development of Russia has accumulated a lot of problems, which include not only the slowdown in economic growth, but the decrease in the level and quality of life of the majority
population, which leads to a further increase in the income gap between rich and poor strata of Russian society, and increased social tensions. At the same time, the listed socio-economic problems are not only related to public life, they are, first of all, «...problems...of the
economy as a whole, including its efficiency...of innovative activity» [1, p. 2258]. The solution of these problems is impossible without the participation of the state, and the effective functioning of the public sector of the national economy largely contributes to sustainable socio-economic development, increasing incomes of the population and reducing social tension. These circumstances require the development of a set of tasks for sustainable inclusive economic growth, which provides not only for ensuring conditions for economic growth over a long period of time, but also aimed at reducing social inequality, developing human capital and improving the level of public welfare. At the same time, «it is important to create and constantly maintain a barrier-free economic environment...» [12, p. 65], which will ensure sustainable socio-economic development of the state.
Not only the successful development of the country, but the level and quality of life of the population largely depends on the effectiveness of the socio-economic policy developed by the state and the effectiveness of state regulation of the national economy. Therefore, in modern conditions, « it is difficult to overestimate the importance of the public sector, which provides public security, regulates the activities of economic entities, protects all elements of the national economy system from the power of monopolies, produces public goods, provides social protection, etc.» [3, p. 34]. One of the functions of the public sector of the economy is to stabilize the socio-economic system of the country and provide prerequisites for achieving sustainable inclusive economic growth and improving the level of public welfare. Therefore, in Russia, the state «...regulation of certain aspects of the economy is an integral part of the economic life of modern society» [8, p. 36], and the priorities of the state are of a public nature and are primarily aimed at the development of human capital, ensuring a developed public infrastructure in all regions, preserving the natural environment, increasing the level of income and quality of life of the population. At the same time, the development of the national economy system is of great importance, that is, at the present stage of development of society: «...the state focuses its activities on the formation of a stable socio-economic environment conducive to economic activity of the population, and enhance the social mobility of citizens, enterprise» [9, p. 23]. Also in Russia, «as the practice of the last decade shows, the extensive nature of increasing budget expenditures for the implementation of certain areas of state activity...did not lead to economic growth or to a radical change in the situation in the social sphere. Today, we need to move to an intensive path of achieving economic growth» [2, p. 191].
The concept of inclusive economic development, which is aimed at solving the most important social and environmental problems, most fully corresponds to the solution of accumulated socio-economic problems and sustainable economic growth in Russia. The presence of an inclusive component in sustainable economic growth means the creation of equal opportunities for all social strata, conditions for improving the quality and standard of living of the population. At the same time,
«...inclusive growth means fair (non-discriminatory) development that ensures equal participation of all population groups, including the «disadvantaged», in the process of economic growth and the distribution of benefits from increased well-being...» [6, p. 14]. This concept provides for the use of completely different methods of conducting macroeconomic analysis and methods of assessing the effectiveness of state socioeconomic policy. Such a concept «...emerged as a result of combining three main components: economic, social and environmental. At the same time, achieving sustainable development is a difficult task, since all components of the concept must be balanced» [7, p. 5].
Inclusive growth includes indicators of poverty reduction and reducing social inequalities, unemployment, modernization of education, health and social protection, quality of life, status and development of public infrastructure and creation of prerequisites for sustainable economic growth. At the same time, indicators of inclusiveness include a wide variety of indicators of society's life, such as poverty and inequality, economic growth and employment, public infrastructure, education, life expectancy and health. And on their basis, the index of inclusive development is calculated, which «...allows us to assess the distribution of created benefits and the degree of its uniformity and accessibility of these benefits for different categories of the population» [4, p. 79].
To solve socio-economic problems in Russia, national projects are being implemented based on the principles of inclusiveness in priority areas of public life, such as health, demography, education and housing, state support for strategically important sectors of the national economy, the development of small and medium-sized businesses, the activation of digital transformation processes, etc. The priorities today determine possible ways of achieving sustainable and inclusive economic growth, improve public welfare and increase the overall competitiveness of a country's economy, as «...the structural problems of economic development...in Russia, creating a demand for the formation of a new system that would provide economic stability and social security of citizens» [10, p. 55]. Therefore, it is possible to identify areas of priorities established at the state level:
- providing a comfortable environment for life in Russian society, namely affordable and high-quality housing for all citizens of our country, reducing dilapidated and dilapidated housing stock, improving the level of improvement, developing public infrastructure in cities and rural settlements, building modern and safe highways, maintaining territorial environmental safety;
- comprehensive human capital development, including health development and ensuring access for all social groups to quality health care, upgrading education and improving the professional level of the population, the creation of conditions for increase of birth rate, increase life expectancy and improve the demographic situation in the country as a whole, the development of the network of organizations available of the sport, the institutions of culture and art;
- creation of prerequisites and conditions for ensuring sustainable economic growth, namely, the development of fundamental and applied science, digital transformation of the national economy and society, state support for small and medium-sized businesses, priority sectors of the economy, the creation of hightech jobs and reducing unemployment, increasing labor productivity.
These national projects contribute to inclusive socio-economic development, and their implementation may lead to the reduction of poverty and social inequality, high employment, growth in real incomes, improving the quality and availability of public goods such as health care, education and social protection, a favorable and stable environmental conditions, the improvement of the demographic situation, etc. Achieving such inclusive development goals is the main condition for sustainable economic growth. Therefore, at the present stage, «improving the quality of life of Russians is a key task of state policy, which is characterized by the main factors, including food security, access to housing, education and health care, quality of work, availability of modern sports facilities, the use of digital technologies in engineering and transport infrastructure, etc.» [14, p. 15], and «...national projects are an important state tool for solving socio-economic problems, which is distinguished by the scale, orientation to socially significant problems» [5, p. 42]. In this case, the state is obliged not only to create prerequisites for increasing national income, but also to ensure innovative and technological development, to carry out rational redistribution of income and produce high-quality public goods, as well as to conduct an effective social policy that is the basis for inclusive growth. At the same time, «although the state plays an important role in investment policy and the national innovation system, its role increases in inclusive development» [11, p. 24]. Therefore, priority national projects are aimed at sustainable socio-economic development of certain territories, development of human potential and improvement of the quality of life of all social strata, innovative transformation of regional socio-economic systems, implementation of state social guarantees for the population and improvement of public safety, that is, ensure inclusive (socially-oriented) economic growth, which provides equal opportunities for all members of society.
Thus, at the present stage, state priorities in Russia are aimed at sustainable socio-economic development, which can ensure inclusive economic growth in our country and increase the level of public welfare. Therefore, the implementation of priority national projects developed at the state level is aimed at ensuring sustainable economic growth, improving the quality of life of the population and increasing the level of public welfare. At the same time, such a socially-oriented «economic growth...can be considered both as a factor and as a result of the functioning of the economy» [13, p. 152]. This growth can be largely facilitated by the effective implementation of priority national projects developed at the state level, which are aimed not only at the development of the national economy, but also at the development of human capital, improving the level
and quality of life of the population. And as world practice has proven, the presence of an inclusive component in the process of socio-economic development is the basic and main feature of a rationally functioning public sector of the economy.
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