Tovt S.Yu.

The role of public-private partnership in attracting investments into the Russian economy

Keywords: public-private partnership, investments, infrastructure, concession agreements, public-private partnership agreement, municipal-private partnership agreement, life cycle contract, offset contract

The problem of increasing investments in the country's economy is currently one of the key issues for maintaining growth rates. The opportunities for increasing investment through the state budget is nearing its limits, and the private sector is unable to shoulder the current economic risks on its own, given the prevailing macroeconomic uncertainty and high interest rates And in the immediate future, these constraints cannot be eliminated promptly. One of the few tools that can unite the private and public sectors is the public-private partnership. The development of public-private partnerships is becoming an important tool for modernizing infrastructure (transport, energy, social, etc.), restructuring the economy, and improving the socio-economic situation in the country's regions. Public-private partnerships enable the pooling of resources from the public and private sectors, fostering mutually beneficial cooperation, sharing risks and promoting the country’s economic development. The purpose of the study is to analyze the practice of public-private partnership in Russia, the current role of public-private partnership in the country's economy, identify factors influencing the success of attracting investments, and develop recommendations for improving the effectiveness of the public-private partnership mechanism. Materials and methods. The study is based on an analysis of legislation governing public-private partnerships, statistical data from Rosstat and the Bank of Russia, analytical reports from specialist centres (VEB.RF) and academic publications. The method of comparative analysis and classification of types of public-private partnership are used. Results. The economic situation in Russia is characterised by low growth rates and limited capacity within the state budget. At present, GDP growth stands at around 1%, against a backdrop of a high budget deficit and insufficient investment. An effective tool for overcoming these problems is public-private partnership, which promotes activation of capital investments and modernization of infrastructure. The analysis shows that implementing public-private partnership projects can reduce budgetary expenditure by approximately 11% provided the right approach to financing is taken and construction begins on time. Despite the positive effects, insufficient government support reduces investor interest, especially in conditions of high lending rates and an uncertain economic environment. Particular attention is paid to instruments such as offset contracts, which enable the interests of the public and private sectors to be aligned through long-term commitments to procure goods or services. Conclusions. Despite the fact that public-private partnership mechanisms are widely used in Russia, their impact on the country's economy currently remains negligible. The reasons for this are high interest rates, a lack of long-term financial instruments and the absence of transparent project selection procedures. A number of recommendations have been proposed to improve the situation, including lowering the key rate of the Bank of Russia, developing the stock market and the infrastructure bond market. These measures will help to attract additional funding and improve the profitability of public-private partnership projects. Positive trends have been identified in the application of quasi-models of public-private partnership, such as offset contracts. Due to its flexibility, this instrument enables the state and the business sector to collaborate on mutually beneficial terms, minimises the risk of investments failing to yield a return, and promotes the development of domestic manufacturing and small and medium-sized enterprises.

About authors

Tovt Svyatoslav Yu.

Post-Graduate Student, Department of Economic Theory and International Economic Relations, Chuvash State University, Russia, Cheboksary (t-svjt@mail.ru; )

Article link

Tovt S.Yu. The role of public-private partnership in attracting investments into the Russian economy [Electronic resource] // Oeconomia et Jus. – 2026. – №2. P. 53-62. – URL: https://oecomia-et-jus.ru/en/single/2026/2/5/. DOI: 10.47026/2499-9636-2026-2-53-62.