The task of restoring economic growth is considered in the article for the conditions of Siberia, which experienced a certain decline in its social and economic development in the previous economic period compared to the national average. We have analyzed the statistics of 2014-2015, which, according to experts, reflect the dynamics of the drivers of economic growth. It is shown that the situation has deteriorated in the regions of the Siberian Federal District (SFD). The decline in the consumer market and investments in fixed assets exceed the figures for Russia as a whole. The subjects of the Federation, members of the district exhibit high non-uniformity in the development. The sectoral specialization of regions does not provide the potential to increase incomes. State policy of regulation and support of small business is not aimed at improving the spatial structure of small businesses, which will can lead to falling household incomes, plant closures, job cuts, and further reduction of the regional income. Based on the analysis of the dynamics of public debt and deficit volumes of consolidated budgets of subjects of the Russian Federation, we can conclude that the SFD subjects do not have sufficient budgetary resources to maintain growth potential. We have formulated recommendations for reducing the impact of the existing negative trends in different areas. We have proved it is necessary to develop a new version of the district’s strategy that would include new tasks associated with the project approach to accelerating economic growth, which will provide a concentration of financial, managerial and administrative resources on the most important specific problems in the economy and social sphere of the SFD, yielding tangible, measurable results.