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The head of the Accounts Chamber named the main risks for the Russian economy

The head of the Accounts Chamber named the main risks for the Russian economy
Photo: State Duma Press Service

The growth rate of the Russian economy is slowing down the decline in the working-age population, low labor productivity and low incomes of citizens. This was stated in an interview with reporters by the head of the Audit Chamber of the Russian Federation Alexei Kudrin.

Opinion of the head of the department publishes RIA News. According to him, the working-age population is decreasing in Russia, and this factor will be deducted from the GDP growth by at least 0,2 percentage points in the coming years. In the face of a reduction in labor, it is necessary to increase labor productivity, otherwise it will not work to increase production volumes.

According to the head of the Accounts Chamber, 90% of Russian enterprises do not offer innovative products. For comparison, in Germany this share is close to 55%, and in Italy to 41%. The reason lies in the weak competition in the economy. So, state-owned corporations, which often have a monopoly position or advantages and many private companies are not ready to compete with them.

According to Alexei Kudrin, the state should leave all competitive sectors of the economy. For example, in the distant future, Russia should not have state oil companies.

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