MOSCOW, May 13. /TASS/. The development and strengthening of the Russian economy is one of key tasks, acting Energy Minister, candidate to Deputy Prime Minister Alexander Novak said, adding that not only a notable GDP growth, but also the formation of a game-changing economic growth model is necessary to achieve the tasks set by Russian President Vladimir Putin.

"The development and strengthening of the economy is one of key tasks. The goal of Russia becoming one of the world’s top four economies by 2030 and reaching economic growth above the global average was defined by the president in his address to the Federation Council and in the May decree. For achieving this goal, it is necessary not only to notably boost gross domestic product, but also to form a game-changing economic growth model, create additional conditions for development of industry, new production facilities, development of technological and financial sovereignty, fair competition, private initiative and, what is most important, growth of people’s income," he said addressing the State Duma (lower house of the parliament).

Novak noted that he planned to focus in his work on the creation of favorable transparent conditions and incentives among other things for opening new enterprises and ensuring an accelerated inflow of investment in the economy, particularly through banks and development institutions. Novak will also focus on reducing risks and regulatory barriers, as well as increasing the attractiveness of Russian jurisdiction and other instruments to support business. "We will work in this area together, with the Central Bank in particular," he said.