Socio-Economic Development of the Country in the Context of Sanctions Pressure

Социально-экономическое развитие страны в контексте санкционного давления

Ruslan A. Dolzhenko and Alexandr V. Nazarov
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Ruslan A. Dolzhenko: Ural State University of Economics
Alexandr V. Nazarov: Ural State University of Economics

Russian Economic Development, 2023, issue 5, 8-18

Abstract: The aim of the study is to assess the current situation and opportunities for socio-economic development of the Russian Federation in the context of sanctions pressure and the need to revise the main benchmarks in the scientific and technological development of the country. Despite the unprecedented number of sanctions imposed on Russia by foreign states, the domestic economy has demonstrated a margin of safety, consolidated the capabilities of economic entities and the population to overcome the challenges facing the country and was able to choose new benchmarks for socio-economic development. The analysis demonstrated that the experts’ forecasts of deteriorating socio-economic situation were not justified and the directions of reorientation of domestic economy in the context of the need to turn to the East, restructure supply chains, further import substitution and development of domestic industry were also determined.

Keywords: sanctions; economic development; special military operation; new directions of economic development (search for similar items in EconPapers)
JEL-codes: E24 F51 O10 (search for similar items in EconPapers)
Date: 2023
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