Putin was sworn in at the Kremlin last month and began his fourth presidential term. Putin has made breakthrough development a task for the next six years, demanding that the growth rate of the economy be raised above the world average and that macroeconomic stability be maintained.

Focusing on domestic development will be the priority direction for Putin’s administration in the new term. Putin stated in his State of the Union address in March that a series of development goals of Russia over the next six years, including that the growth rate of Russia’s economy should surpass the average growth rate of the world economy in the next six years; by the middle of the twentieth century, Russia’s economy should remain stable in the world. The top five; Russia will work hard to raise the income of residents, and by the middle of the twentieth century, the per capital GDP of Russia will be increased by 50% compared with the present.

Some analysts believe that despite Putin’s clear development goals, it is not easy to realize as expected. Although the Russian economy has stepped out of the recession, the recovery is not stable, and the growth rate needs to be further improved. Due to the continuous influence of Western sanctions, Russia is hard to introduce advanced technology and foreign investment has also been reduced significantly. Russia has not yet shaken off the economic structure that depends on resource exports. The turmoil in the geopolitical situation, the continuation of sanctions against Russia, and the instability of energy export revenues are the risks facing Russia’s economic development.

In order to resolve these risks, Russia is striving to carry out multi-faceted dialogue and cooperation. The director of the Russian Political Information Center, Mu Xin, believes that Russia-U.S. relations will not make any progress in the next few years. For Europe, Russia and some EU countries have the will to develop cooperation, Russia-Europe relations will have room for improvement during Putin's new term. Eastwards will remain a prominent feature of Russia’s foreign policy in the coming years. In the Asia-Pacific region, Russia will continue to strengthen its cooperation with China while promoting multi-nation diplomacy and developing political and economic ties with Japan, South Korea, Vietnam, and India.