Abstract:

World practice has proved that only a state-controlled economy is capable providing economic growth and sustainable development. Active state policy in economics is a key to ensuring the competitiveness of the national economy. Liberal and neoliberal approaches implemented in the Russian economy have been proven untenable. The reforms led to economic losses comparable to losses of wars, revolution and the civil war of 1914-1922. Nowadays the economic modernization should be mainly focused on increasing the level of monetization of the Russian economy, growth of budget expenditures, and an increase in share of state assets.