The Role of the Third Sector in Russia’s Socioeconomic Development

The Role of the Third Sector in Russia’s Socioeconomic Development

2 June, 16:30–17:45

Modern economic policy is focused on delivering an optimal combination of economic efficiency, social security, and equity. The emergence of the non-commercial sector as a meaningful factor in the country’s economic life is becoming an urgent issue. The contribution made by not-for-profit organizations to Russian GDP was less than 1% in 2016, while it reaches 10% in many developed economies. Why is the social sector still undervalued in Russia, and what steps should be taken to enhance the financial and legal capabilities of non-profits? How can the financial stability of NPO operations be strengthened, and what can be done to broaden the sector’s role in the social services market?















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