Russian President Vladimir Putin will head the newly created Presidential Council on strategic development and priority projects, said he during his address at the St. Petersburg International Economic Forum (SPIEF-2016) on Friday.

“The challenges that we are facing, require new approaches to development management. And here, we intend to actively use the design principle. In the near future, the Presidential Council on strategic development and priority projects will be created. Yours truly will be heading it, and Prime Minister Dmitry Medvedev will chair it,” Putin said.

According to President Putin, the Council will be engaged in key projects, which are aimed at structural changes in the economic and the social sectors, at increasing the economic growth, productivity, improving the business environment and the promotion of small and medium enterprises, export support.

“These are pervasive projects, affecting various sectors of the economy and the social sector, they go far beyond the competence of one department and require the active participation of the regions and municipalities,” the president added.

At the same time, the state social programs such as health, education, housing, the project will receive projects with “clear guidelines on what results we expect to have by 2020 and 2015, and what measures should lead to those results.”