In April 2014, the government of the Russian Federation approved the State Program on Economic Development and Innovative Economy, with important changes concerning state support to the private sector and access of foreigners into the local economy. 



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Inception date: No inception date

Instrument unclear

Resolution of the Russian Government No. 316-p of 15 April 2014 introduced the state program "Economic development and innovative economy" ('State Programme') up until 2020.

The Innovation and the Skolkovo subprogrammes are of special interest in terms of industrial policy interventions, while Investment Climate and SME subprogrammes lead to the introduction of foreigner-related measures.
The total volume of state subsidies from the federal budget for implementation of the State Programme are 929 billion RUB (ca. 26 billion USD). According to the projected budget, these funds shall be allocated in roughly equal amounts across the years up until 2020.

The main goals of the programme are:

  • investment attraction;
  • promoting competition and entrepreneurship
  • supporting small and medium enterprises;
  • eliminating excessive regulation and undue political interference into the economy;
  • improve the quality of state and municipal services and public administration;
  • improve the operation of natural monopolies and the state regulation of their prices;
  • formation of the knowledge economy and high technologies;
  • improving public policy in land relations and real estate turnover, geodesy, cartography and spatial data infrastructure;
  • improving the collection, processing, and publishing of statistical information.

The state programme includes the following sub-programmes:

  1. Formation of a favorable investment environment;
  2. Development of small and medium enterprises;
  3. Creation of favorable conditions for the development of the real estate market;
  4. Improvement of state and municipal management;
  5. Stimulation of innovation;
  6. Effective functioning of natural monopolies and other regulated organisations and the development of incentive regulation;
  7. Personnel for innovation economy;
  8. Improving the system of state strategic management;
  9. Formation of official statistical information;
  10. Creation and development of innovation center "SKOLKOVO";
  11. Federal target program "Development of unified state system for registration of rights and cadastral registration (2014-2019)".


The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.