Economy – a national security issue

“Low competitiveness, an export model based on raw materials, and high dependence on external conditions are among the main threats in the economic sector” said Assistant Secretary of the Security Council Sergey Vakhrukov in a comment to the National Security Strategy that was approved by President Vladimir Putin on December 31 2015.

Other problems the Security Council identifies as real threats to Russia´s role as a power are the delayed introduction of advanced technologies, national budgetary imbalance, inadequate loaning system and vulnerability of the financial system, RBK reports.

Varkhrukov said that one of Russia´s goals for the socio-economic development is to be among the world leaders regarding the gross domestic product. “Russia should respond appropriately and successfully to the impact of internal and external threats”, he said.

At the end of 2015, GDP fell by 3.8 percent. For 2016, IMF expects a decline in the Russian economy by one percent, and in 2017 a growth of 1.0 percent, according to a recent report on global economy.