ON THE NEED FOR A NEW SOCIO-ECONOMIC POLICY

Abstract

The purpose of the article is to justify the need for the formation of a new socio-economic policy. The prerequisites for the development of the new policy are the long stagnation of 2013-2019 and the recession in 2015. The author structured new conditions for the socio-economic development of Russia after the crisis of 2008-2009. The coronavirus pandemic and the decline in oil and gas industry revenues are seen as the factors that triggered the global structural crisis of 2020. This crisis reinforced the need for a transition to a new economic policy since Russia had a unique chance to move from a deep crisis of 2020 immediately to economic and social growth instead of returning to stagnation. The main sources of additional funds are substantiated, especially the part of investments in fixed assets and investments in human capital (and knowledge economy) as the main drivers of the country's development.