Analysis of Russia’s Digital Economy National Programme Funding
N. Kuznetsov, Doctor of Economics and Head of Analysis and Modelling of Economic Processes and Systems Scientific School, has carried out an analysis of the funding of the Digital Economy of the Russian Federation National Programme. We are launching a series of publications based on N. Kuznetsov’s research.
Over the period of 2011–2015, thanks to the rapid growth of Russia’s digital economy, GDP increased by 59% in this sector, i.e. at an 8.5 times higher rate than the country’s economy. However, the Digital Economy of the Russian Federation National Programme was adopted when Russia was not among the leaders but rather belonged to the countries “actively following suit”, investing into the expansion of information and communication technology infrastructure and integrating digital technologies into the government bodies. Russia had been lagging behind the global leaders in business digitalisation.
The funding of the Digital Economy of the Russian Federation National Programme was adopted by executive order No. 1632-p on 28 June 2017. It is built upon five key areas, statutory regulation, education and personnel, shaping research competencies and laying research groundwork, as well as IT infrastructure and cybersecurity.
Experts believe that by 2025 Russia’s GDP will increase by 4.1–8.9 trillion roubles thanks to the digitalisation of its economy. They explain this dramatic growth by the introduction of new business models and technologies including digital platforms, digital ecosystems, advanced big data analytics as well as Industry 4.0 technology that encompasses robotic process automation, 3D printing and IoT.
These changes will equally improve the nation’s purchasing power enabling citizens to choose better priced products via mobile apps, Internet services and service aggregators. The competition between producers and sellers will ensure the high quality of products and help reduce prices. This positive outlook is due to the introduction of radically new business models and the efficient automation of processes and technologies.
Дата публикации: 7.08.2019