The Ministry of Economic Development of the Russian Federation () is a federal ministry in the Russian Government. The ministry is responsible for regulating and forming policies related to socioeconomic and business development in Russia.

History

Andrei Nechayev was the first minister in 1992. He was fired in 1993. Andrei Shapovalyants replaced him. The Ministry has evolved in function and title over the years. In 1997, what was then known as the Ministry of Economy absorbed the Ministry of Defense, whose functions it carried solo until 1999, when the work of the Ministry of Defense was divided among five agencies. In 2000, at which point the agency was reconstituted as the Ministry of Economic Development and Trade, Herman Gref was appointed to the role of minister, a title he held until 2007. Gref was succeeded by Elvira Nabiullina in September of that year, and Nabiullina continued in that role until May 2012. During her term, in 2008, the Ministry of Economic Development and Trade transferred its responsibilities for developing policies around and overseeing regulation of trade to the new Ministry of Trade and Industry and was accordingly retitled the Ministry of Economic Development. On 21 May 2012, Andrey Belousov replaced Nabiullina as minister. Minister Yevgeny Yelin was appointed by President

Vladimir Putin Vladimir Vladimirovich Putin (born 7 October 1952) is a Russian politician and former intelligence officer who has served as President of Russia since 2012, having previously served from 2000 to 2008. Putin also served as Prime Minister of Ru ...

in November 2016. His predecessor, Alexey Ulyukaev, had been arrested by the FSB for bribery.

List of economy ministers

References

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Economic Development In economics, economic development (or economic and social development) is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and object ...