MOSCOW, May 7. /TASS/. Russian President Vladimir Putin has signed a decree setting the national development targets up to 2024, the Kremlin’s press-service said.

Earlier in the day Putin was sworn into office for another six-year term at an inauguration ceremony in the Kremlin.

By signing a major decree immediately after taking office Putin continued the tradition of eleven decrees of May 7, 2012, which identified the main tasks of the country’s socio-economic development for years to come.

Russia should join the group of the world’s five largest economies by 2024, according to the Russian president’s decree on the country’s national goals and strategic development tasks.

The document sets several goals, which the Russian government should achieve by 2024.

One of the tasks says that "the Russian Federation should join the group of the world’s five largest economies, ensure economic growth rates above the world’s level while keeping macroeconomic stability, including inflation at no more than 4%".

National projects 

The Russian government should develop or revise national projects in twelve areas, ranging from demography to international cooperation and export supports, Russian President Vladimir Putin announced. 

"The Russian Government in line with national goals is to develop (revise) in cooperation with government authorities of Russian constituencies and present national projects (programs) in the following areas by October 1, 2018 for consideration at the meeting of the Council under the Russian president for Strategic Development and Priority Projects: demography, healthcare, education, housing and urban environment, ecology, safe and quality motorways, labor productivity and employment support, science, digital economy, culture, small and medium enterprises and support of individual business initiative, international cooperation and export," the Decree reads.

Digital economy 

The government should ensure growth of the share of costs for the digital economy development in Russia's GDP of at least 3-fold in 2024 compared to 2017, Vladimir Putin said. 

The targets to be achieved by the government in 2024 include increasing domestic expenditures for the development of the digital economy at the expense of all sources (by share in the country's gross domestic product) at least 3-fold compared to 2017.

Putin also instructed to ensure "creating a stable and secure ICT infrastructure for high-speed transmission, processing and storage of large amounts of data accessible to all organizations and households."

At the same time, state bodies, local governments and organizations in 2024 should use predominantly domestic software.

By 2024, the government should also create a legal regulation system for the digital economy, based on a flexible approach in each sphere.

The president also instructed to ensure information security on the basis of domestic technologies.

According to the decree, in 2024, digital technologies and platform solutions should be implemented in the areas of public administration and provision of public services.

Putin also urged to solve the problem of transforming priority sectors of the economy and the social sphere through the introduction of digital technologies and platform solutions.

The program "Digital Economy of the Russian Federation", approved in the summer of 2017, was designed up to 2024 and consists of five areas: normative regulation, education, personnel, cybersecurity, formation of research competencies and IT infrastructure. Part of the activities envisaged by the documents are already being implemented.