Malikova Olga

The article explores the impact of the change in competitive conditions on the European energy market on the macroeconomic situation in the Russian Federation. The influence of the European sustainable economic development strategy, Europe 2020: a strategy for smart, sustainable and inclusive growth on increasing energy efficiency of the European economy is evaluated. Forecasts of possible changes in the macroeconomic situation in Russia in case of a drop in energy prices are analyzed. Possible amendments to macroeconomic policy are considered.

Harmonious sectoral economic development directly affects the quality of economic growth and is possible in an efficient and balanced public policy. The dependence on primary commodity exports can be overcome, including through the development of related industries of oil and gas sector, many of which are high-tech in nature.

The dependence of the Russian economy on energy export casts some doubt on the efficiency of the energy policy. New technologies can change the structure of the energy market in the near future. It is necessary to direct the vector of the country's economic development towards modernization of the fuel and energy complex and processing industry as well as stimulation of alternative energy research.