Russia’s economy is obsolete, ‘exhausted’ & has failed to transition to better, modern model, says ex-finance minister Kudrin ...News

Russia is still running an old economic model that has outlived its usefulness, and the country needs to transition to a modern, investment-based economy to stimulate growth, boost exports and have more of an impact worldwide. That’s according to Alexey Kudrin, the head of Russia’s Accounts Chamber, the parliamentary body that oversees the country’s finances. Kudrin is also a former deputy prime minister and served as the minister of finance. In his opinion, Russia should stop focusing on domestic consumption and turn its focus to exports, while investing at home. “We have an old economic model, which has now exhausted itself and will

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