Abstract
At the beginning of 2013 a disturbing trend of plummeting rates of economic growth in Russia continued. However low rates of economic growth followed by shrinking inflow of investments and decelerating income growth are absolutely unacceptable for the modern Russia development. First of all, in the next few years Russia has to handle the acute issues stemming from the multi year underinvestment in both industrial and social infrastructure. Secondly, over the past two decades production output grew mostly thanks to over exploitation of existing enterprises rather than building the new ones. As a result, new capacities are often needed just to keep the existing production output and to prevent it falling down because of the accelerated depreciation of completely obsolete capital assets. Thirdly, in contemporary Russia conditions only high rates of production growth provide for modernization of and qualitative changes in the economy. At the first stage of the new economic policy domestic demand should be based mainly on investment growth and much less on increasing consumer demand.