Realities of economic growth and development in the post-soviet countries

Gülşən Z.K. Yüzbaşiyeva ()

Economics of Contemporary Russia, 2024, issue 2

Abstract: The article discusses issues of high-quality economic growth and development that create the foundations for sustainability and stability. An analysis of factors influencing changes in the macroeconomic situation for 2015–2022/2023 is presented. The current situation in the countries of the former USSR is considered. The main reasons limiting economic growth and development are identified, and mechanisms for overcoming them are revealed. The need to pay more attention to qualitative indicators of economic growth and development, which create the foundations of sustainability, is substantiated. In the current conditions, the qualitative component of economic growth and development is becoming increasingly important due to the increasing influence of global problems, risks, uncertainty, sanctions, and local wars. The pandemic had a certain impact on the country's economic growth, which revealed the need for sustainable financing of public investment to achieve a certain level of economic growth and development, tax revenues. The pandemic has contributed to increasing the importance of innovative projects. The adopted programs, concepts and road maps contribute to the formation of a competitive innovative industrial complex. All this, in turn, will create the basis for a qualitative improvement of the country’s existing production potential and contribute to the transition to a predominantly innovative type of development. It is advisable to realistically reflect the current situation, not to turn a blind eye to the real positive changes taking place in the country, which contribute not only to its economic, but, above all, to its political strengthening of its position in the world. The essence of economic planning is not to give a project, but to determine a direction that is adjusted depending on the situation. Economics must justify economic activity and the following chain can be shown schematically: idea – ​economic justification – ​real implementation.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ack:journl:y:2024:id:991

DOI: 10.33293/1609-1442-2024-2(105)-63-82

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