Vladimir Putin

Moscow, (IANS) : Russian President Vladimir Putin has signed a decree to approve the country’s economic security strategy for the period until 2030, the Russian government said on Monday.

“The implementation of the strategy should result in ensuring Russia’s economic sovereignty and stability against external and internal challenges and threats,” said a document published on the government’s legal information website.

The strategy should also “strengthen social and political stability, guarantee dynamic socioeconomic development and improve the people’s life quality,” it said.

According to the document, the main challenges and threats to Russia’s economic security include attempts of developed countries to use their advantages in economic development and high technology as a tool for global competition.

Russia also faces the threat of the use of discriminatory measures against key sectors of its economy, restricted access to foreign financial resources and technologies, and creation of international economic associations without participation of Russia.

Internal threats include the vulnerability of the information infrastructure of the Russian financial and banking systems, low rates of economic growth, high crime rates and corruption in the economic sphere.

The strategy will be implemented in two phases, said the document.

During the first phase, until 2019, the Russian government will develop organisational, regulatory and methodological measures to provide mechanisms for monitoring and assessing the state of Russia’s economic security.

At the second phase, from 2019 to 2030, the country is to implement measures to neutralize these challenges and threats.