Since 2015, Russia has been replacing 3.5 trillion rubles for the purpose of import substitution.
As Deputy Prime Minister of the Russian Federation Yury Borisov passed during the plenary session, since 2015, Russia will receive 3.5 trillion rubles for the purpose of import substitution, with this half of this amount coming from extrabudgetary sources. |
Borisov specified that Russia’s trade turnover from 2015 to 2021 increased by almost 50%, to $786.6 billion. Including with developed countries – by 35.8%, APEC countries – by 77.5%. The share of the rest increased to 33% from 28%. “All these are potentially high-tech investment projects that are being implemented on the territory of our country,” the Deputy Prime Minister said.
He pointed out that in recent years Russia has diversified its export portfolio. At the end of 2021, non-energy exports account for about 40% of total exports and “we are no longer in danger of the Dutch disease when we depend on one export, in particular, types of hydrocarbons.” At the same time, as the Deputy Prime Minister noted, the world cannot be consumed without Russian energy resources, but they still have to be “correctly brought” to the emergence of new consumers. “Hydrocarbon exports are going through a wait time. Leading Western countries refuse our resources. In the event of a drawdown in hydrocarbon exports, Russia has a good start. There is a lot of work to be done to build new supply chains. Even in the event of a drawdown, there is a margin of safety, and we will get out,” Deputy Prime Minister of the Russian Federation Yuri Borisov said at the Industrial Policy in New Realities summit. In terms of import substitution Borisovnoted that, thanks to early measures for the sustainability of the nomenclature of the fight against electronic components, the Russian space liability turned out to be better prepared for import substitution than some other industries. |
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