Subject. The article substantiates the need to reorient the traditional Russian economic development model to a more relevant one. Objectives. The aim is to study the components of effective development of the domestic economy, taking into account current economic changes, sanction restrictions and post-crisis recovery of world economies, to analyze economic development models proposed by Russian and foreign experts. Methods. The theoretical and practical basis of the research rests on open data of presentations and statistical reports of the Center for Macroeconomic Analysis and Short-Term Forecasting, the Institute for the Economy of Growth named after P.A. Stolypin, the Institute of Economic Forecasting of the Russian Academy of Sciences, the Platform of the National Technology Initiative, the Center of Development Institute of the HSE, and foreign analytical company Global Peo Services. Results. The paper outlines the conditions that are necessary for successful transformation of the current economic model of Russia, formulates the key priorities of strategic initiatives of the Russian government concerning the economic development of the country. Conclusions. Based on GDP indicators of the Russian Federation and other parameters of the country's economic development, the paper presents a predictive scenario of successful introduction of a competitive economic development model of domestic enterprises in 2022–2023, evaluates practical experience of advanced Russian enterprises implementing indigenous technological developments.
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