Research background: The modern model of the economy, with its glaring inequalities in the distribution of income and wealth, a bet on the development of the financial sector, a high level of consumption with a low level of production, has put society in the face of fundamental challenges that require the development of a model adequate to the new reality. The current world order in the context of financial turmoil is particularly painful for countries whose financial markets are among thedeveloping ones.
Purpose of the article: The main purpose of this article is to analyse the problems faced by developing countries (for example, Russia) in the modern economic model, and ways to solve these problems.
Methods: To conduct the study, we used official statistics data, the analysis of which allowed us to determine the degree of mutual influence of key parameters of economic development.
Findings & Value added: Determining the directions of implementation of the new economic policy, it seems important to build a two-circuit model of economic management based on the compatibility of the planned system and private interest. Such a model should combine two components. The first component is the mobilization, administrative and command economy, aimed at ensuring its stability in the face of external challenges and priority support for strategic industries. The second component is a market economy, where private entrepreneurship would
deal with the problems of saturation of the domestic market due to import substitution.