Socio-economic development of Russia in terms of the BRICS countries’ development

Ilmir Nusratullin; Svetlana Kuznetsova; Yuliya Gazizyanova; Ekaterina Kutsenko; Lubov Berezhnaya

doi:10.34069/AI/2020.27.03.6

Ilmir Nusratullin Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia. https://orcid.org/0000-0001-7810-2945
Svetlana Kuznetsova Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia. https://orcid.org/0000-0001-6554-3928
Yuliya Gazizyanova Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.
Ekaterina Kutsenko Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia. https://orcid.org/0000-0002-5860-542X
Lubov Berezhnaya Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia. https://orcid.org/0000-0002-2782-7599

DOI: https://doi.org/10.34069/AI/2020.27.03.6

Keywords: poverty, socio-economic development, standard of living.

Abstract

The welfare of the population is largely dependent on the socio-economic development of the country. It is believed that the stronger the state’s economy, the higher the standard of living of the population. In the framework of this article, the socio-economic development of Russia in terms of the standard of living of the population is considered. It is concluded that over the past 5 years, despite an increase in the level of wages and per capita income, the standard of living of the population of Russia has decreased. The welfare of the citizens of Russia and the citizens of the BRICS countries is compared herein. It is concluded that the dynamically growing economies of India and China contribute to the improvement of the living standards of the population, while the problems in the economies of Russia, Brazil, and South Africa negatively affect the incomes of the population of these countries. The paper suggests incitement of the domestic demand as a factor in the development of the economy and thereby the standard of living.

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Author Biographies

Ilmir Nusratullin, Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia.

Ph.D. in Economics, Associate Professor, Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia.

Svetlana Kuznetsova, Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia.

Ph.D. in Economics, Associate Professor, Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia.

Yuliya Gazizyanova, Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.

Ph.D. in Economics, Associate Professor, Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.

Ekaterina Kutsenko, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Ph.D. in Economics, Associate Professor, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Lubov Berezhnaya, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Senior Lecturer, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

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