Innovative development of Russian economy is a fiscal policy priority for the government

Author: Agatha Idrisova Section: Major Events of the Month

Issue: August 2012, Vol. 7, No. 7

Tags: Medvedev

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Innovation Priority

Prime Minister Dmitry Medvedev has declared support for economic reforms the priority of Russian government’s fiscal policy over the next three years. The ultimate goal is to provide Russia a worthy place in the international division of labor, including, as holder of intellectual properties ownership rights. Also included in the priority tasks are programs that contribute to economic modernization and restructuring, transition to production of high-tech products. These measures should free the Russian economy from its overtly lopsided dependence on energy prices on the global markets.