MOSCOW, November 24. /TASS/. National Projects that are being implemented in Russia, present opportunities for economic growth, though their implementation should not contribute to expanding the role of the state in the economy, the International Monetary Fund reported on Tuesday.
"The national projects present both an opportunity to bolster potential growth in the economy, as well as some risks. If done well, they could materially improve infrastructure, strengthen skills, and increase diversification and exports. But they should not be seen as a substitute for the important reforms mentioned above, nor should they contribute to expanding the already large footprint of the state on the economy. Instead, maximizing their impact will require a level playing field to ensure strong private sector participation," the report said.
The IMF pointed out earlier the necessity to improve business climate, strengthen competition inside the regions and between them, as well as to develop state enterprises’ corporate management principles.
The fund also welcomed the introduction of the ‘regulatory guillotine’ mechanism, adding though that its role remains to be assessed.
"The recent regulatory guillotine is welcome, though it remains to be seen how effective it will be at eliminating the large maze of regulations many of which are a historical legacy," the authors of the report said.