“If we talk about the potential for economic growth, then I see the main challenges in the fact that we have insufficiently structural institutional reforms today. That is, our challenges that face the Russian economy are not completely covered by steps, including the government in the first place, ”RIA Novosti quoted Kudrin as saying.
According to Kudrin, without further changes, the growth potential of the Russian economy is about 1.5% per year.
He also noted that among the challenges for the growth of gross domestic product, such as a decrease in the number of able-bodied people, a relatively low share of the country's spending on education, and the poor state of the investment climate.
At the same time, Kudrin said that labor productivity was halved in comparison with the European Union, which allows us to speak of good reserves for economic growth, and reported on the positive goals of national projects, the scale of which, however, is insufficient to expand the entire economy.
Kudrin said earlier that the growth of the Russian economy in 2020 will be about 2%.
In June, the World Bank lowered its forecast for the growth of the Russian economy in 2019 from 1.4 to 1.2%.