Economic Security as a Tool for Ensuring National Economic Development

¹ Moscow State Regional University, Mytishchi, Russian Federation
² Vladimir State University named after Alexander Grigorievich and Nikolai Grigorievich Stoletov, Vladimir, Russian Federation
³ Russian University of Economics. G.V. Plekhanov, Moscow, Russian Federation

^* Corresponding author: aigul-211159@mail.ru

Abstract

The paper discusses the concept of national economic security as a tool for ensuring progressive economic growth. The concept is multifaceted and involves ensuring security in all spheres of economic activity, in the social sphere, etc. However, today economic security is increasingly jeopardized by new threats that the state is obliged to protect against. Ensuring economic security starts with some social issues, namely, ensuring a growing personal income, combating unemployment and poverty, etc. Growing personal incomes allow enterprises to increase production volumes and create conditions for innovations to be launched, i.e. bring about a multiplier effect. As of the first quarter of 2022, the poverty rate in the country was over 14 %, which means that 14 % of citizens could afford to buy only the most necessary items, not to mention any major purchases. Unfortunately, Russia is still dependent on imported machinery, equipment, IT components, etc. Domestic production is inferior to foreign counterparts, both in price and quality, and an import substitution policy has not been fully implemented yet. On the other hand, foreign companies having withdrawn from the domestic market caused price rises and reduced competition for domestic producers. Thus, the state is required to provide support for manufacturers, on the one hand, and on the other hand, to take measures in the social sphere that would reduce social tension and foster economic recovery after a long period of self-isolation caused by the coronavirus pandemic and increasing sanction pressures.