Developing the system for monitoring the implementation of the economic security strategy of the Russian Federation

Abstract

Subject. The article discusses a new approach to monitoring and supplementing a set of indicators used in the Economic Security Strategy of the Russian Federation. Objectives. We evaluate the robustness of the indicators using SMART-tools, which help consider whether the indicators are applicable to monitor the attainment of strategic goals of economic security. Results. We prove it is necessary to alter the existing set of indicators, since some of them are not compliant with SMART criteria. For instance, it is reasonable to add indicators measuring the attainment of the goal, such as Strengthening the Economic Sovereignty of the Russian Federation, and Maintaining the Potential of the National Defense and Industrial Complex to Ensure the Military-Economic Basis of the National Defense. Conclusions and Relevance. We confirm it is necessary to develop new approaches to setting indicators to monitor the implementation of the economic security strategy. Indicators should be further determined and specified, with their target values being assessed. Thus, it is reasonable to refer to expert assessments and various statistical methods (for example, the assessment of correlations). The Economic Security Strategy should specify desired target indicators. The findings can be used to unfold approaches to strategic planning in economic security. The study provides a practical solution to determine the balanced set of indicators to measure the attainment of economic security goals.